Investing

The Twitter-24/7 Wall St. Stock Market Report 5.28.2010 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 BP plc (NYSE: BP), BBVA (NYSE: BBVA), Sears Holdings (NASDAQ: SHLD), Nvidia (NASDAQ: NVDA), Deck Outdoors Corporation (NASDAQ: DECK), and SalesForce.com (NYSE: CRM).

CNN Money: Euro falls to four-year low http://bit.ly/aOXjXJ

CNN Money: Zipcar files for $75 million IPO http://bit.ly/ahdsop

CNN Money: Apple 2.0: Europe and Asia run short of iPads http://bit.ly/bWvAOc $AAPL

Reuters Biz: Google phases out Microsoft Windows use: report http://link.reuters.com/tep57k

Reuters Biz: Dubai Holding unit posts $6.2 billion loss in new hit http://link.reuters.com/ran57k

MarketWatch: BP’s London-listed shares drop 12% after ‘top-kill’ procedure fails http://on.mktw.net/b6QhpS

FT: BP shares plunge after failure to plug well: London traders punish the UK oil company as the market returns from a… http://bit.ly/duPYL2

FT: AIG and Pru fail to agree revised deal: American International Group on Tuesday said that it was not prepared to c… http://bit.ly/drOJRV

Douglas A. McIntyre

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