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Social Media Tracking ETF Backed By Barstool’s Portnoy Dips In Debut

On Thursday, VanEck Social Sentiment ETF (BUZZ) debuted on NYSE, backed by the founder of Barstool Sports, Dave Portony. The ETF includes the top 75 stocks with the most positive investor sentiment

The ETF uses artificial intelligence to go through 15 million posts on social media per month and identify stocks with the most positive sentiment with a market capitalization above $5 Billion.

Some of the holdings are Tesla "TSLA", Twitter "TWTR", Draft Kings "DKNG" and Plug Power "PLUG".

The ETFs tracks the BUZZ index which was incepted in December 2015. Since inception, the index has outperformed the S&P 500 by around 100% (215% vs 113%).

On its first trading day, “BUZZ” dipped 3.61% compared to S&P’s 1.34%. This is logical as the components of the ETF are growth companies trading at high multiples and shorter operating history and hence, higher beta.


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