And, this being America, it didn’t take long for someone — in this case a Texas-based digital marketing firm called The Think Tank (T3) — to see that there was some money to be made in that.
But, before you label them greedy profiteers, consider this: The profits they make by short-selling the stock of companies Trump has negatively tweeted about are going to the American Society for the Prevention of Cruelty to Animals.
The ASPCA confirmed to the Washington Post that it has received donations from T3.
“We appreciate their support,” said a spokeswoman, who didn’t comment on what those donations have amounted to.
The company won’t say how much their program, called “Trump and Dump,” has made, either, but described the amount as “YUUUUUUUGE.”
The idea came from a staffer in the company’s New York office.
When a publicly traded company is mentioned, the bot triggers a “sentiment analysis,” determining if the tweet is going to have a positive or negative effect.
If it leans negative, the algorithm tells a connected E-Trade account to short-sell the stock, which nets T3 a profit.
Short selling means placing a market bet on a share price going down rather than up. (To achieve a better understanding of how exactly short sales work, go somewhere else. This is a dog website, after all.)
This week, Trump referred in a tweet to computer problems at Delta Air Lines. T3 made a trade before the stock dropped, and saw a 4.47 percent return. “The Trump & Dump bot was all over it,” said T3 President Ben Gaddis.
Stocks dipped for Boeing when Trump, as president-elect, tweeted about the cost of building Air Force One, and they took a dive for Lockheed Martin when he called the expenses of its F-35 jet “out of control.”
Similar stock drops affected automakers Toyota Motor Corp., General Motors and Ford after Trump mentioned them in a tweet about building vehicles in Mexico.
T3 isn’t the first company to capitalize on Trump’s tweets, but it is the first to choose animals as its beneficiaries.
“We didn’t want to pick an organization that was really political,” Gaddis said, “and who doesn’t love dogs and cats?”
Based in Austin, T3 calls itself an “innovation agency,” working with companies to enhance their digital marketing, mobile applications and website development.
Posted by John Woestendiek February 3rd, 2017 under Muttsblog.
Tags: algorithim, american society for the prevention of cruelty to animals, animal welfare, animals, aspca, ben gaddis, boeing, bot, business, comments, companies, delta, dogs, donald trump, ford, general motors, lockheed, monitors, pets, posts, president trump, short sale, stock market, stocks, t3, the think tank, toyota, Trump, trump tweets, tweets, twitter