Over the past few weeks, I had the opportunity to work on the GameStop data analysis project focused on understanding how the event effected the US stock market especially for finance, insurance, and real estate sectors (FIRE). The GameStop event refers to a significant financial phenomenon that occurred in early 2021. It involved a sudden and dramatic increase in the stock price of the American video game retailer GameStop, driven by individual retail investors from an online community called Reddit's WallStreetBets. To gain meaningful insights, I employed the statistical technique Hypothesis testing within the SPSS software. Additionally, I utilized SPSS's robust data visualization tools to present the findings effectively. The analysis revealed that the GameStop event had a positive impact on the FIRE sector which means that the overall abnormal stock return of Finance, Insurance and Real-estate companies drastically increased. For this analysis, I used SPSS for statistically analysis and Power BI for visualization. The data for the analysis was imported from Wharton Research Data Services (WRDS). Here are some of the key findings in detail: Market Volatility and Financial Performance: The GameStop event caused significant market volatility, particularly within the finance sector. This led to increased trading volumes and surges in stock prices for certain financial institutions. Investment Strategies and Risk Management: Insurance companies capitalized on the situation by adjusting their investment strategies to take advantage of the changing market dynamics, highlighting the importance of agile approaches and robust risk management. Real Estate Market Influence: The event also had a spillover effect on the real estate market, with increased financial activities leading to a surge in demand for real estate companies located near regions with high trading volumes.
Apr 01, 2023 - Apr 30, 2023