<![CDATA[This study aims to test the hypothesis that information posted on social media plays an important role in influencing stock trading volume and trading frequency under bullish and bearish market conditions on the Indonesia Stock Exchange. A multivariate regression analysis approach is employed involving one main variable and six control variables across 12 industry sectors. The data consists of primary data, namely buy postings and sell postings. Secondary data were used for the control variables represent corporate financial performance, and Trading volume and trading frequency, as dependent variables. The results show a significant effect of buy posting on trading volume and trading frequency in bullish market conditions, and a significant effect of sell posting on the two dependent variables in bearish market conditions. This study has implications that social media information is more important than fundamental per price factors in stock investment decisions. As a recommendation, investors must pay attention to information shared on social media platforms and participate in social media discussions. This research contributes to the literature in four fields, first providing the impact of social media information on stock values in separate market conditions, that never been done before. Second, trading frequency, as a proxy for stock values, is new in this research area. Third, the rare use of Telegram as a social media platform adds to the existing research. Fourth, this research provides proof from Indonesia or developing country.]]>
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