▁Pac o ▁A hl gren . ▁ ▁Wis dom ▁of ▁Crow ds ▁ ▁In ▁ 2 0 1 4 , ▁the ▁Review ▁of ▁Fin an cial ▁Studies ▁published ▁Wis dom ▁of ▁Crow ds : ▁The ▁Value ▁of ▁Stock ▁Op in ions ▁Trans m itted ▁Through ▁Social ▁Media . ▁Research ers ▁from ▁City ▁University ▁of ▁Hong ▁Kong , ▁Pur due ▁University ▁and ▁Georgia ▁Institute ▁of ▁Technology ▁analyz ed ▁approximately ▁ 1 0 0 , 0 0 0 ▁Se ek ing ▁Al pha ▁articles ▁and ▁comment ary ▁published ▁between ▁ 2 0 0 5 ▁and ▁ 2 0 1 2 . ▁The ▁research ers ▁looked ▁at ▁the ▁ability ▁of ▁Se ek ing ▁Al pha ▁articles ▁to ▁predict ▁not ▁only ▁future ▁stock ▁returns ▁( a ▁variable ▁sus cept ible ▁to ▁influence ▁by ▁anal yst s ' ▁published ▁opinions ), ▁but ▁also ▁future ▁ear nings ▁surpr ises ▁( a ▁variable ▁unlikely ▁to ▁be ▁influenced ▁by ▁published ▁opinions ). ▁The ▁authors ▁found ▁that ▁views ▁expressed ▁in ▁Se ek ing ▁Al pha ▁articles , ▁as ▁well ▁as ▁reader ▁comment aries ▁on ▁those ▁articles , ▁did ▁predict ▁future ▁stock ▁returns ▁over ▁every ▁time - frame ▁exam ined , ▁from ▁one ▁month ▁to ▁three ▁years . ▁ ▁Articles ▁and ▁reader ▁comment aries ▁also ▁predicted ▁ear ning ▁surpr ises . ▁ ▁Re ception ▁In ▁ 2 0 1 3 , ▁W ired ▁named ▁Se ek ing ▁Al pha ▁one ▁of ▁the ▁" core ▁nut ri ents ▁of ▁a ▁good ▁data ▁di et ." ▁In ▁ 2 0 0 7 , ▁Se ek