Abstract: Semantic analysis is conducted about the information released on Twitter from the 142 enterprises listed in S&P 500 enterprises The information is categorized as enterprises’ image enhancing information and non-image enhancing information, and the relationship between these two types of information and stock trading volume is empirically studied, and the interactive effects of the information are tested It is found that, the image enhancing information can effectively improve the perceived value of investors and reduce the degree of information asymmetry, and has the significantly positive correlation with the stock trading volume Meanwhile, most non-image enhancing information is neutral, which distracts investors from dealing with the image enhancing information and intensifies the degree of information asymmetry; and have the negative correlation with the stock trading volume The non-image enhancing information weakens the positive correlation between the image enhancing information and the stock trading volume This study provides a new way to explore the business value of enterprises’ social media

Key words: stock trading volume, social media, information content, image enhancing information, non-image enhancing information