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 Baidu, Inc (NASDAQ: BIDU), Cisco Systems Inc (NASDAQ: CSCO), Sybase Inc. (NASDAQ: SY), Morgan Stanly (NYSE: MS), NetFlix, Inc (NASDAQ: NFLX), Direxion Small Cap Bear 3x Shares (NYSE: TZA), SAP AZ (NYSE: SAP) ,and Hotel Inns & Hotel Management, Inc (NASDAQ: HMIN).
CNN Money: Big banks slashed small business credit lines http://bit.ly/bku2Hh
Reuters Biz: New York AG investigating 8 banks http://link.reuters.com/myx83k
Reuters Biz: BP says oil spill costs $450 million so far http://link.reuters.com/cut83k
Reuters Biz: Spain joins euro austerity drive http://link.reuters.com/muq83k
MarketWatch: U.S. initial jobless claims decline to 444,000 last week; 4-week moving average off 9,000 http://on.mktw.net/cGkJsz
MarketWatch: SAP agrees to buy Sybase for $5.8 billion http://bit.ly/cAEU8T
FT: Facebook’s open disdain for privacy http://bit.ly/aIAVAO
Douglas A. McIntyre
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