Barstool’s Portnoy-Backed BUZZ ETF Stumbles On Debut

Barstool’s Portnoy-Backed BUZZ ETF Stumbles On Debut

To bee or not to bee, that is the question… 

For days Barstool Sports‘ Dave Portnoy pumped VanEck Vectors Social Sentiment ETF (ticker BUZZ) to his 2.4 million followers. Telling everyone how he’s putting his „face behind,“ his „reputation behind,“ and everything he represents behind this new ETF. 

Well, on opening day, VanEck Vectors Social Sentiment ETF (ticker BUZZ) plunged 3% in early trading, rebounding slightly after 1015 ET. 

The ETF (something we previewed to readers weeks ago) searches online sources such as social media, news articles, and blogs for highly spoken about stocks to trade. It then uses AI to identify patterns, trends, and changing sentiment, affecting market-based outcomes. It trades 75 US large-cap stocks with the highest degree of positive investor sentiment and bullish perception from the portfolio, which is rebalanced monthly.

Here’s a partial list of BUZZ’s basket. 

With a dismal start to trading, Portnoy starts the pump. 

Portnoy and the „suits“ at VanEck Vectors ring the NYSE opening bell.

On Mar. 2, Portnoy posted an „emergency press conference“ video on his Twitter telling everyone the great news about his new ETF venture. 

The internet has gone incredibly crazy about BUZZ:

However, there are skeptics…

To bee or not to bee, that is the question… 

Tyler Durden
Thu, 03/04/2021 – 11:08
ZeroHedge News
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