... of the crowd stock returns Our sample includes 572,262 individual employee predictions—the employees chose between “get better,” “stay the same,” and “get worse,” which we code as +1, 0, and −1, respectively—for 2,270 unique companies from May 2012 to December 2016. Together, these companies account...

...Michael J. Jung; M. H. Franco Wong; X. Frank Zhang ABSTRACT We posit that a change in analyst interest in a firm is an early indicator of the firm's future fundamentals, capital market activities, and stock returns. We measure increases in analyst interest by obser.ving analysts who do not cover...