The VanEck Social Sentiment ETF, which was launched with the assistance of Dave Portnoy, founder of Barstool Sports, debuted on the New York Stock Exchange on Thursday and Jim Cramer has argued that in several weeks Technology and industrial stocks are making notable moves

The Buzz ETF, as it is often called, consists of 75 stocks – each with a minimum market capitalization of 5 billion USD – Selected by an algorithm based on their positive sentiment on social media.It trades on the NYSE under the ticker symbol BUZZ and is managed by VanEck Associates Corp

The 75 stocks are rebalanced each month, adding replacement stocks and removing stocks that are underperforming This is based on what the founders described as the highest level of “positive investor sentiment”, which emerged from examining around 15 million posts on various social media networks
TheStreet founder Jim Cramer said Thursday that the ETF and its stock picking technique are “fascinating” and will likely shift many of the 75 names in it if traders accept Portnoy’s call to invest in it

“Social media and mobile technology have fundamentally changed the way we deal with stocks,” states the ETF’s website. “There’s a lot of online chatters every day, changing emotions and our collective attitudes having an impact clearly based on their value from “

The ETF itself was marked 11% lower at $ 24 13 in early trading Thursday, compared with a 0 decline in the Nasdaq Composite Index of 17%

Twitter (TWTR) – Get Report stocks, the largest allocation in the ETF at 352%, were marked 1.5% lower at $ 69 for 70 each, but are up more than 77% in the last six months

The second largest holding, online sports betting group DraftKings (DKNG) – Get Report, was rated 1.3% lower at $ 64 90, a move that reduced its six-month profit to around 80%

Ford Motor Co(F) – Get Report, the third largest assignment, rimmed at 0, 2% higher to $ 12, 20 each and is up to 775% in the last six months

Other stocks in the EFT are Facebook (FB) – Get Report (3% of total stocks), Amazon (AMZN) – Get Report (2) 94%), Apple (AAPL) – Get Report (29%) and Tesla (TSLA) – Get Report (275%)

Buzz ETF

World news – CA – The BUZZ ETF, backed by Dave Portnoy, traded lower on debut, Jim Cramer ‘fascinated’ by stock selection