The Twitter-24/7 Wall St. Stock Market Report 5.19 The Wisdom Of Crowds?

Investing

Published: May 19, 2010 8:45 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 are Visa, Inc (NYSE: V), VIVUS Inc. (NASDAQ: VSVS), Hewlett-Packard Company (NYSE: HPQ), ProShares Ultra DJ-UBS Crude Oil (NYSE: UCO), Standard & Poor’s Depository Reciepts (NYSE: SPY), and Goldman Sachs Group Inc (NYSE: GS).CNN Money: Consumer prices edged down 0.1% in April due to falling energy prices, government says; prices still up 2.2% for the year. $$

MarketWatch: U.S. consumer prices fall 0.1% in April http://on.mktw.net/byLICJ

WSJ: U.S. consumer prices fell 0.1% in April. http://on.wsj.com/9SmVXt

WSJ: The euro hit a new four-year low today http://on.wsj.com/di3kC8

MarketWatch: Stocks in Europe decline in the wake of Germany’s ban on ‘naked’ short selling http://on.mktw.net/a0azMe

Reuters Biz: Target profit rises on clothing, electronics http://link.reuters.com/raf25k

Reuters Biz: Google beats Microsoft in smartphones, catching Apple http://link.reuters.com/jaf25k

Reuters Biz: Geithner urges “follow through” in Europe crisis http://link.reuters.com/rec25k

FT: German ban adds to eurozone worries: Global Market Overview: Berlin’s ban on ‘naked’ short-selling adds to concern… http://bit.ly/d7nyha

Douglas A. McIntyre

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