Divergent Investor Perspectives and Volatility Risk -- Research Based on Stock Bar Public Opinion Data

Abstract

Retail investors are the primary participants in the A-share market, with a large number, large differences in economic levels, and uneven accumulation of financial professions, so it is manifested in the large differences in opinion and investment behavior of individual investors, which influence the risk of stock market volatility. Due to the rise in popularity of mobile clients, browsing stock bar post content has become an essential way for retail investors to get investment trend. This paper analyzes the impact of public opinion on the fluctuation of Oriental Wealth Internet Stocks by focusing on micro-level individual stocks. In addition, the paper supplements empirical studies on stock volatility from the micro level of differences in investor opinion, providing market regulators with a reference for better understanding investor psychology and managing network public opinion. The empirical results show that: (1) Stock volatility is positively correlated with divergent investor opinions;(2) Post sentiment value is positively correlated with post comment volume;(3) Investor sentiment in different sectors affects stock prices to varying degrees.