Need insights for your next trade? Check out Instagram for data
In a sign of just how bewildering a pandemic of this magnitude has been for investors, they’re turning to social media and transport data to see if citizens are taking the threat of the virus seriously.
They’re looking at Instagram posts, Twitter and other platforms, and seeing the public enjoying meals at restaurants in Swedish ski resorts, concerts in the U.K. when the government called for social distancing and commuters packed into public transport despite lockdowns. They’re also examining traffic and GPS data for insight into whether people are staying at home.
Because if they aren’t, traders may need to adjust their portfolio. The rate of infections remains one of the most important figures to monitor, and markets are unlikely to calm down until there’s proof that the virus has been reigned in. In the absence of any gauges to help forecast when that will happen, investors are getting creative.