# FinMoji: A Framework for Emoji-driven Sentiment Analysis in Financial Social Media

arXiv: https://arxiv.org/abs/2605.09469 · HTML: https://mlsanity.com/paper/2605.09469/

## Key facts

- No citing papers in the map yet (data through 14 Oct 2026).
- Builds on 16 of its 69 references that are in the map.
- First posted on arXiv 10 May 2026.

## Builds on (most cited first, 16 of 16)

- [Attention Is All You Need](https://mlsanity.com/paper/1706.03762/) (2017)
- [BERT: Pre-training of Deep Bidirectional Transformers for Language Understanding](https://mlsanity.com/paper/1810.04805/) (2018)
- [RoBERTa: A Robustly Optimized BERT Pretraining Approach](https://mlsanity.com/paper/1907.11692/) (2019)
- [DistilBERT, a distilled version of BERT: smaller, faster, cheaper and lighter](https://mlsanity.com/paper/1910.01108/) (2019)
- [TweetEval: Unified Benchmark and Comparative Evaluation for Tweet Classification](https://mlsanity.com/paper/2010.12421/) (2020)
- [FinBERT: Financial Sentiment Analysis with Pre-trained Language Models](https://mlsanity.com/paper/1908.10063/) (2019)
- [SemEval-2017 Task 4: Sentiment Analysis in Twitter](https://mlsanity.com/paper/1912.00741/) (2019)
- [On The Computational Complexity of Self-Attention](https://mlsanity.com/paper/2209.04881/) (2022)
- [TimeLMs: Diachronic Language Models from Twitter](https://mlsanity.com/paper/2202.03829/) (2022)
- [Predicting Stock Prices with FinBERT-LSTM: Integrating News Sentiment Analysis](https://mlsanity.com/paper/2407.16150/) (2024)
- [Studying Cultural Differences in Emoji Usage across the East and the West](https://mlsanity.com/paper/1904.02671/) (2019)
- [Through a Gender Lens: Learning Usage Patterns of Emojis from Large-Scale Android Users](https://mlsanity.com/paper/1705.05546/) (2017)
- [Investor Emotions and Earnings Announcements](https://mlsanity.com/paper/2006.13934/) (2020)
- [Semantic Journeys: Quantifying Change in Emoji Meaning from 2012-2018](https://mlsanity.com/paper/2105.00846/) (2021)
- [The Digital Flynn Effect: Complexity of Posts on Social Media Increases over Time](https://mlsanity.com/paper/1707.05755/) (2017)
- [Emoji Driven Crypto Assets Market Reactions](https://mlsanity.com/paper/2402.10481/) (2024)

## Abstract (arXiv)

This paper explores the use of emojis in financial sentiment analysis, focusing on the social media platform StockTwits. Emojis, increasingly prevalent in digital communication, have potential as compact indicators of investor sentiment, which can be critical for predicting market trends. Our study examines whether emojis alone can serve as reliable proxies for financial sentiment and how they compare with traditional text-based analysis. We conduct a series of experiments using logistic regression and transformer models. We further analyze the performance, computational efficiency, and data requirements of emoji-based versus text-based sentiment classification. Using a balanced dataset of about 528,000 emoji-containing StockTwits posts, we find that emoji-only models achieve F1 approximately 0.75, lower than text-emoji combined models, which achieve F1 approximately 0.88, but with far lower computational cost. This is a useful feature in time-sensitive settings such as high-frequency trading. Furthermore, certain emojis and emoji pairs exhibit strong predictive power for market sentiment, demonstrating over 90 percent accuracy in predicting bullish or bearish trends. Finally, our research reveals large statistical differences in emoji usage between financial and general social media contexts, stressing the need for domain-specific sentiment analysis models.