Graduation Year
2021
Date of Submission
5-2021
Document Type
Campus Only Senior Thesis
Degree Name
Bachelor of Arts
Department
Economics
Second Department
Psychology
Reader 1
Professor Rosett
Rights Information
© 2021 David X Chen
Abstract
Former United States President Donald J. Trump consistently utilized Twitter to convey his opinions and attitudes with the public. His tweets contained critical information that influenced market sentiment and investor behaviors. This study quantifies the impact of Trump’s industry sentiment across 15 industries from December 31, 2016 to January 8, 2021. I find that his tweets with a positive industry sentiment significantly increased mean excess returns across particular industries. Furthermore, industries with a stronger negative sentiment are more responsive to Trump’s tweets with significantly stronger abnormal trading volumes.
Recommended Citation
Chen, David, "The Art of the “Trump and Dump”: Investigating the Impact of President Trump’s Tweets on Industry Performance" (2021). CMC Senior Theses. 2788.
https://scholarship.claremont.edu/cmc_theses/2788
This thesis is restricted to the Claremont Colleges current faculty, students, and staff.
