Flight Story, the company founded by Oliver Yonchev and Steven Bartlett has released a new tool to measure the impact social media has on stock prices.
The official launch of Flight Deck comes in the wake of major stock moves driven by social media and forums. One of the most high profile was when GameStop hit the headlines in 2020 as a Reddit forum drove its share price so high it caused trading to stop and hedge funds lost around $8bn.
Flight Deck is described as a “world first” as it takes “tens of millions” of online data points and feeds them into an algorithm to give insights to listed companies.
“Social media is well and truly driving the market. Over the past year, we’ve seen how a single Tweet can both plummet or skyrocket a company’s stock,” explained Oliver Yonchev, CEO and co-founder of Flight Story.
“However, social media conversation moves so rapidly it can be challenging for brands to stay at the forefront. This is where Flight Deck comes in. We’ve worked tirelessly to build a world-class platform that picks up on these high-impact incremental mentions so that brands are better positioned to create compelling content, spark investor interest and make better decisions.”
