WSJ: Wall Street Is Looking to Reddit for Investment Advice

I'd be very curious to hear if anyone here is doing similiar things -- and if you are successful. I've been scraping Reddit for almost a year, and while there is plenty of interesting output, I cannot see how one would calibrate WSB/Reddit to actual trading signals. The key problem for me seems to be the small n-value of tradeables and events with tradeables.

I can very clearly quantify risk of something swinging wildly. But implied vol usually adjusts very quickly. So I dont see (yet?) on whether this could provide true alpha.

The other thing is -- given that implied vol adjusts so quickly, why not just use IV as the signal for risk than trying to scrape reddit?