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Barstool’s Dave Portnoy promotes brand-new ETF mutual fund that tracks social networks chatter – CNET

Dave Portnoy

A brand-new exchange-traded fund will utilize social networks to choose what stocks to trade.


Twitter.

Barstool Sports creator Dave Portnoy tweets routinely about his day-to-day stock trades and was extremely active throughout the currentfrenzy over GameStop stock Now he’s presenting his own exchange-traded fund (ETF) that utilizes artificial intelligence to identify what stocks to trade based upon favorable online posts, he stated Tuesday.

The VanEck Vectors Social Belief ETF, or BUZZ as it’ll be described on the New York Stock Exchange, is set to introduce March 4. It’ll hold stock in 75 business, which have a market cap of $5 billion, and it’ll turn these stocks based upon social networks posts, news short articles and blog sites.

The top holdings in BUZZ are Twitter, Draft Kings, Ford, Facebook, Amazon, Apple, Netflix, AMD, American Airlines, Netflix and Tesla.

Portnoy tweeted out a video Tuesday stating the ETF launched 5 years earlier and has actually exceeded the S&P 500 by 40% in 2020.

On Wednesday, Portnoy tweeted another video describing his participation. He verified that he was not earning money to promote BUZZ, however was provided an ownership stake in the ETF.

Correction, 3:54 p.m. PT: An earlier variation of this short article misstated what Portnoy stated in the video he tweeted out. He stated BUZZ exceeded the S&P 500 by 40% in 2020.

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