David Portnoy, the ubiquitous founder of Barstool Sports, is the prominent endorser of an upcoming Exchange Traded Fund (ETF) using social media sentiment to build a portfolio of stocks

In a video published on Twitter today, Portnoy confirms that he has a stake in the VanEck Vectors Social Sentiment ETF. This fund will be listed on Thursday on the New York Stock Exchange under the ticker “BUZZ The new fund tracks the BUZZ NextGen AI US Sentiment Leaders Index Portnoy is so dedicated that he changed his Twitter avatar to the index provider’s logo – a bee with a tail shaped like a dollar sign

The premise behind the fund is simple The BUZZ index uses a computerized algorithm to scan social media sites like Reddit, StockTwits, Twitter, and others to identify stocks that create a positive sentiment

The Sentiment Leaders Index is made up of common stocks of US. Companies that are registered by BUZZ Indexes Inc Developed rule-based quantitative methodology (the “index provider”) with which the U is to be identifiedS Common stocks with the “most positive insights” from online sources such as social media, news articles, blog posts, and other alternative records, “says an approval application.” Positive insights are a measure of the level of positive corporate sentiment as well as the breadth of active Discussion of each company through participants on online platforms ”

The index uses artificial intelligence to scan over 15 million social media posts a month.The concept may be too unique or complex, but it delivers. Last year, the ad increased 8943 percent, while the S&P 500 is 32 higher08 Percent

Portnoy and a social media investment vehicle are a potentially effective marriage. His Barstool Sports is entrenched in internet pop culture and has established an engaging fool of “stoolies” that earned the company an investment of US $ 163 million last year. Raised dollars from Penn National Gaming (NASDAQ: PENN)

Today Penn and Portnoy partner with the game company that uses the Barstool brand for their retail and mobile sports betting. Although he does not hold an official leadership position with the casino operator, Portnoy is widely considered to be the face of Penn

Portnoy used to be known for cheeky commentary on pop culture issues and for challenging old guard sports media norms during the sport’s shutdown forced by the coronavirus pandemic he used stock trading as a substitute for sports betting while keeping an eye on Barstool and warming up new customers for Barstool Sportsbook

Although he has been criticized for often speaking bullishly about Penn National stock, of which he is a major shareholder, Portnoy’s enthusiasm for trading is palpable, some experts believe he has an important role to play in getting a new one Bringing generation of investors to the market and giving them a voice that the Wall Street establishment must recognize

Today on Twitter there is talk of potential compliance issues related to the use of a famous endorser for an investment vehicle, especially because Penn stock is one of the holdings in the BUZZ ETF

Still, it’s likely that the Portnoy partnership idea has been vetted internally by VanEck, meaning it is kosher in regulatory terms, currently DraftKings (NASDAQ: DKNG) is the only other gaming equity in the sentiment index That name and Penn combine for 545 percent of the benchmark

The ETF is a revival of a fund from another issuer that passed away two years ago after having failed to attract investors despite a strong performance. This old product, however, did not have the benefit of the “Portnoy magic” ”

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World news – CA – David Portnoy from Barstool Fame is the public voice of the new BUZZ ETF

Source: https://www.casino.org/news/david-portnoy-of-barstool-fame-is-public-voice-of-new-buzz-etf/