The Twitter-24/7 Wall St. Stock Market Report 5.21 The Wisdom Of Crowds?

Investing

Published: May 21, 2010 8:49 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 S & P 500 (NYSE: SPX), Standard & Poor’s Depositary Receipts (NYSE: SPY), Apple Inc. (NASDAQ: AAPL), Google Inc. (NASDAQ: GOOG), United State Oil Fund, LP ETF (NYSE: USO), ProShares Trust ProShares Ultra (NYSE: UCO) and SPDR Dow Jones Industrial Average (NYSE: DIA)FT: Senate approves Wall Street reform bill: The US Senate passed a sweeping overhaul of finance evening, paving the w… http://bit.ly/dh1i8J

CNN Money: Euro continues rebound http://bit.ly/dvDjWb

MarketWatch: German lower house of parliament approves rescue deal for debt-strapped euro-zone nations http://on.mktw.net/b7O3jF

MarketWatch: Key Ifo gauge of German business confidence declines in May; rise forecasted http://on.mktw.net/clEBrV

Reuters Biz: Fed’s Kohn says inflation expectations key with low rates http://link.reuters.com/hej65k

Reuters Biz: Pepsi to up China investment by $2.5 billion http://link.reuters.com/xeg65k

Douglas A. McIntyre

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