The Twitter-24/7 Wall St. Stock Market Report 5.11 The Wisdom Of Crowds?

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 Apple, Inc. (NASDAQ: AAPL), SPDR Gold Trust (NASDAQ: GLD), priceline.com Inc. (NASDAQ: PCLN), Transocean Ltd (NYSE: RIG), Moody’s Corporation (NYSE: MCO), Encorium Group (NASDAQ: ENCO), and Sprott Physical Gold Trust ETV (NASDAQ: PHYS).

Reuters  Biz: Lacker: Fed must not wait too long to raise rates http://link.reuters.com/vec63k

Reuters Biz: SEC, exchanges agree to boost market safeguards http://link.reuters.com/fec63k

Reuters Biz: Travel firms count cost of volcanic ash disruption http://link.reuters.com/vub63k

CNN Money: Greece to tap $18.4 billion in aid http://bit.ly/dpviNQ

CNN Money: Oil slips after Europe euphoria subsides http://bit.ly/a3degG

Financial Times: Toyota returns to profit despite recalls: The US National Highway Traffic Safety Administration has opened a new i… http://bit.ly/9ydg3K

MarketWatch: Toyota swings to fiscal-year net profit of $2.26 billion http://on.mktw.net/aQlq3i

MarketWatch: China’s April consumer prices rise 2.8% year-on-year, slightly above 2.7% forecasts http://on.mktw.net/cEJ0FG

Douglas A. McIntyre