Barstool Sports head honcho Dave Portnoy announced today he has signed up as a partner to the AI driven BUZZ ETF. BUZZ will be available to trade Thursday morning on the New York Stock Exchange.
BUZZ says they are a different kind of ETF. It uses AI to monitor 15 million online posts a month to measure which stocks have the most positive investor sentiment. BUZZ then ranks the top 75 stocks each month to feature in the BUZZ NextGen AI US Sentiment Leaders Index.
How Portnoy Got Involved with BUZZ
Portnoy says BUZZ approached him after they saw PENN (Penn National Gaming, which owns Barstool Sports) show up in their Index. Portnoy says he saw how social media has been dictating stock prices over the past year.
When Portnoy was shown the algorithm for the first time, he says he saw many of the stocks he covers on his Davey Day Trader Global (DDTG) broadcasts. After reviewing the BUZZ algorithm, it made sense to him. “It’s brilliant, of course it will work,” said Portnoy after studying BUZZ.
How BUZZ Works
The money you invest in BUZZ is redistributed among these top 75 most favorable stocks, according to the BUZZ algorithm. The BUZZ NextGen AI US Sentiment Leaders Index is optimized with the goal of maximizing profits. The Index is adjusted each month based on new data.
The ETF is listed on the NYSE under the BUZZ symbol. It will be available Thursday, March 4 morning.
BUZZ says, over the past year, their Index has been up 89.43%.
Portnoy concedes he’s kind of a “suit” now that he is part of the BUZZ ownership group.
He gets a percent of the management fee (the more money managed by BUZZ, the more he makes).
Between bites of broccolini, which was delivered live during this afternoon’s Miami based DDTG broadcast via Twitter, a tanned Portnoy took questions from his loyal viewers about BUZZ. Portnoy is promising to be transparent in what he makes as part of his stake in BUZZ. And El Presidente will donate his BUZZ management fees if he doesn’t make money for the ETF’s investors.
