The active investor attention literature assumes that active retail investor attention drives retail investor base and therefore, stock demand and stock returns. We aim to provide empirical support for these critical assumptions the literature largely relies on. Utilizing Robinhood investor data...

We provide empirical support for the vast investor attention literature assuming that active retail investor attention is a proxy for stock visibility, impacting retail investor base and subsequently, stock demand and stock returns. Utilizing Robinhood investor data to measure retail investor...