The Twitter-24/7 Wall St. Stock Market Report 5.4 The Wisdom Of Crowds?

Investing

Published: May 4, 2010 8:49 am

Last Updated: January 30, 2014 10:15 am

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: BP plc (NYSE: BP), Pozen, Inc. (NASDAQ: POZN), General Growth Properties ((NYSE: GGP), Transocean, Inc (NYSE: RIG), Dendreon (NASDAQ: DNDN), Cliffs National Resource (NYSE: CLF), Anadarko Petroleum Corporations (NYSE: AFC), Ambac Financial Group (NYSE: ABK), and, InterMune, Inc. (NASDAQ: ITMN).

FT: China slowdown fears add to debt worries: Global Markets Overview: Shares fall and industrial commodities weaken a… http://bit.ly/a7gZxQ

FT: UBS results show signs of recovery: Swiss bank beats last month’s profits forecast with first-quarter net earnings… http://bit.ly/dibIGI

FT: Greek civil servants stage strike: Greek public sector workers have begun a 48-hour strike to protest against what… http://bit.ly/d3knGe

CNN Money: MasterCard profit up 24 percent http://link.reuters.com/pyw52k

CNN Money: Pfizer and Merck post profit, revenue above targets http://link.reuters.com/nax52k

MarketWatch: Pfizer holds 2010 outlook as quarterly net falls 26% http://on.mktw.net/ckW44p

Douglas A. McIntyre

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