Dave Portnoy creates BUZZ, an ETF that scrapes the internet for stocks that people are talking positively about.
Portnoy announced that there will be a new ETF, BUZZ, that he is putting his face behind. The ETF will be available to buy on the New York Stock Exchange and wherever else you buy stocks.
Portnoy has been in the stock market wold since COVID and he was looking for new content ideas. He started doing daily shows called DDTG, which is pretty much him just sharing his stocks, how much he made or lost that day, and the occasional Barstool news.
“This Thursday on the New York Stock Exchange, there is a new ETF launching, a new ETF that I am part of, that I am putting my face and reputation behind.
The name of the ETF is BUZZ, here is what it is. I got approached by these guys who built an algorithm five years ago. The algorithm was designed to scrape the internet and social media and find positive sentiment on stocks. It kind of lingered and did its thing, then DDTG happened, I happened, COVID happened, all of a sudden the amount of chatter of stocks in the internet exploded”.
Portnoy in an Emergency Press Conference
The boom in average guys and girls getting into the stock market happened when the pandemic struck and stock prices plummeted. It was a window for everyday folks to get in on the action with discount prices. Portnoy sold Barstool Sports to Penn National Gaming, a casino company that is getting into the sports gambling market.
“They reached out to me when Penn National showed up in their rankings. Hmm, Penn, what is going on there, Oh Dave Portnoy, Penn, DDTG, he gets it. They scrape DDTG, they scrape Reddit, everything.
Twitter, social media all of it is dictating stock prices… I wish I could own a million stocks but you can’t own them all. Well that is the beauty of BUZZ ETF. With BUZZ, the money you put in is being redistributed across the top 75 most favorably talked about stocks according to our algorithm.
Last year BUZZ index beat the S&P by 40%.”
Portnoy Continued
I mean sheesh, beating the S&P is huge, it was a wild 2020 for stocks and with COVID shutting down the world, stocks suffered. We have seen how the internet has almost broken the stock market with GameStop and AMC.
TL//DR: Dave Portnoy creates BUZZ, a new ETF for investors to hopefully make some money in.
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