Multimodal market information fusion for stock price trend prediction in the pharmaceutical sector

Abstract

Abstract With the evolution of China's market economy, the securities market is increasingly anchoring a pivotal role in the nation's economic landscape. Consequently, stock trend forecasting has garnered heightened attention among scholars and practitioners. This research pioneers the use of multimodal information to predict stock market fluctuations. Based on our experimental results, LSTM + Transformer performs better in handling multimodal data for stock movement prediction tasks regarding accuracy, F1-score, precision, and recall. Additionally, we employed the Granger causality test and Impulse response test to investigate the causal relationships between sentiment and stock trends, as well as the interplay between COVID-related indicators and stock trajectories. We identified discernible causal links between sentiments, COVID indicators, and stock trends for select pharmaceutical stocks. Our findings can provide valuable guidance for investors and market regulators, especially within the pharmaceutical industry. Understanding investor sentiment and the impact of the pandemic on severity can assist in effective stock commentary management and improve investment strategies.

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