Barstool Sports activities founder Dave Portnoy tweets usually about his each day inventory trades and was very energetic in the course of the current. On Tuesday, he launched an exchange-traded fund (ETF) that makes use of to find out what shares to commerce primarily based on constructive on-line posts.
The VanEck Vectors Social Sentiment ETF, or BUZZ, on the New York Inventory Change, launched Thursday at a value of $24.40. It holds inventory in 75 corporations which have a market cap of $5 billion, and it will rotate these shares primarily based on social media posts, information articles and blogs.
The top holdings in BUZZ are Twitter, Draft Kings, Ford, Fb, Amazon, Apple, Netflix, AMD, American Airways, Netflix and Tesla.
Portnoy tweeted out a video Tuesday saying the ETF began up 5 years in the past and has outperformed the S&P 500 by 40% in 2020.
On Wednesday, Portnoy tweeted one other video explaining his involvement. He confirmed that he was not getting paid to advertise BUZZ, however was given an possession stake within the ETF.
Correction, March 2 three:54 p.m. PT: An earlier model of this text misstated what Portnoy mentioned within the video he tweeted out. He mentioned BUZZ outperformed the S&P 500 by 40% in 2020.