The Twitter-24/7 Wall St. Stock Market Update 4.26 The Wisdom Of Crowds?

Investing

Published: April 26, 2010 8:33 am

Last Updated: April 26, 2010 9:50 pm

Twitter has, by most estimates, 100 million members, which makes it one of the largest social networks in the world. All major media companies are on Twitter and some have more than one million Twitter users. It raises the question of whether there is wisdom in crowds.

24/7 Wall St. will look at the Twitter posts at Reuters Biz, WSJ, Financial Times, CNN Money, MarketWatch, CNBC, and 24/7 Wall St. each day to see which stocks are most frequently mentioned. It is clear that in this area of social media these tweet are a sign of which companies the Twitter universe is interested in. These financial sites are followed by a combined 625,000 Twitter users which makes them a sizeable sample of Wall St.’s interests. In some cases, we will publish the actual tweets from the sites.

Among the daily top trending symbols on stock twitter aggregator StockTwits are Huntington Bancshares (NASDAQ: HBAN), Lihua International (NASDAQ: LIWA), Jamba, Inc. (NASDAQ: JMBA), Randgold Resources (NASDAQ: GOLD), BP plc (NYSE: BP), and China Automotive Systems (NASDAQ: CAAS).

MarketWatch: Citigroup shares move lower as Treasury to further dispose of U.S.-held stake http://on.mktw.net/apqg7a

MarketWatch: Caterpillar raises 2010 profit target as better demand sparks increased production plans http://on.mktw.net/bPK28b

Reuters Biz: Caterpillar beats forecasts, raises outlook http://link.reuters.com/zep49j

Reuters Biz: Treasury begins sale of Citigroup stake http://link.reuters.com/syn49j

FT: Greek aid depends on budget cut plans: Greece has been told to produce detailed plans this week to meet budget def… http://bit.ly/ahnSc1

CNN Money: Apple 2.0: An Apple bull issues a warning for May http://bit.ly/b9HNaI $AAPL 5 minutes ago

Douglas A. McIntyre

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