Social Media Stock Exchange

Recent years have proven social media's influence on economic trends, such as the stock exchange. We seek to cater to this growing community and provide suggestions on reliable stocks to invest in.

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Inspiration

Recent trends with social media outlets, such as Reddit, have proven the impact that these communities can have on economic trends. The creation of Dogecoin originally started off as a joke but quickly became popular with the use of social media platforms. The rapid increase in the price of and the number of shares owned of GameStop stocks further illustrates the impact that social media outlets have on real-world economic activity. With this in mind, we feel that it is important that these new and unique investors have adequate information as to the reliability of popular trends and stocks and we sought to provide that security for them.

What it does

Looking at the popularity of certain stocks and cryptocurrencies on Reddit, we determine the top 100 trending stocks and cryptocurrencies and evaluate their reliability using data from Yahoo Finance.

How we built it

We integrated various APIs, such as ApeWisdom to determine trending stocks and cryptocurrencies and Yahoo Finance to retrieve economic data on these investments. We then run this data against certain criteria to determine the reliability of these stocks. Lastly, we display the top 100 stocks in order of their popularity including information such as the stock ticker, name, current exchange rate, and its calculated reliability.

Challenges we ran into

One major issue that we ran into was learning how to integrate the Yahoo Finance API into Java and retrieve the information that we needed. This caused us to look into Maven Projects, Lombok, Spring Framework, and other tools that aided us in obtaining this information.

Accomplishments that we're proud of

  • Retrieving current, live data on the trends in stocks and cryptocurrencies on Reddit
  • Running batch files from Java and reading the data created from those commands
  • Requesting and storing live data on any stock given its ticker

What we learned

  • How to use Maven in Eclipse
  • How to create and run Processes in Java
  • How to use ApeWisdom API
  • How to use Yahoo Finance API

What is next with the project

The ApeWisdom made it incredibly easy to retrieve data about both trending stocks and cryptocurrencies; however, for the sake of time, we only focused on stocks. While we did build and implement retrieval for trending cryptocurrencies, we were not able to incorporate that data with a financial API to retrieve information regarding the reliability of those currencies. However, the project has been built in such a way that, if met with the proper API for requesting financial information on cryptocurrencies, could also determine the reliability of these currencies.

The project has also been built in such a way that, if further time were given to work on this project, we could very easily incorporate some form of front-end, back-end communication and be able to display the results in a more graphical and potentially intractable way.

Due to the limited time that we were given, we were unable to test the stocks against our original intended financial metrics. With this in mind, we recognize that our definition of "reliable" is much looser than we would like for it to be. With more time and further research into the Yahoo Finance API, we would be able to test the stocks against the price earning (PE) ratio, return on invested capital, revenue, net income, shares outstanding, long term liabilities (LTL), and cash flow over the course of the last 5 years to more accurately and soundly determine the reliability of a stock.

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