Researchers Find AI Model Outperforms Human Stock Forecasters [Forbes]
Reddit, Inc. Class A (RDDT)
Company Research
Source: Forbes
Reddit Inc. shares jumped as much as 67% over their initial public offering price after the social media company and its shareholders raised $748 million priced at the top of a marketed range, sending a strong signal that the window for US IPOs is reopening. Photographer: Michael Nagle/Bloomberg Researchers have found that AI models can outperform humans in forecasting future company earnings. ChatGPT 4.0 produces superior directional earnings forecasts than human analysts. That's after ChatGPT examined anonymized historic balance sheet and income statement data for prior years. The researchers also found that investing on that AI-based analysis could historically lead to stock market outperformance. The Research The paper was published by researchers at the University of Chicago in May 2024. They provided the AI tool with standardized balance sheet and income statement data and used a detailed “chain-of-thought” prompt outlining a range of analytical techniques and metrics common
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RDDT
Earnings
- 5/7/24 - Beat
RDDT
Sec Filings
- 5/28/24 - Form 4
- 5/28/24 - Form 4
- 5/28/24 - Form 4
- RDDT's page on the SEC website