The Twitter-24/7 Wall St. Stock Market Report 6.23.2010 The Wisdom Of Crowds

Investing

Published: June 23, 2010 8:33 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 most tweeted stocks on market aggregator Top Stock Tweets are EURUSD, AUDUSD, GBPUSD, USDJPY, BP plc (NYSE: BP), Microsoft Corporation (NASDAQ: MSFT), Goldman Sachs Group (NYSE: GS), Adobe Systems, Inc (NASDAQ: ADBE), and Amazon.com Inc. (NASDAQ: AMZN).CNN Money: Philip Morris cuts year share view on weak euro http://link.reuters.com/caq63m

CNN Money: Rite Aid posts smaller-than-expected loss http://link.reuters.com/mup63m

Yahoo! Finance: Judge who nixed drilling ban has oil investments http://yhoo.it/a9EWDH

Yahoo! Finance: Treasury chief says taxpayers are recouping investment from financial bailout http://yhoo.it/d0Jh28

DailyFinance: Rite Aid Reports Narrower Loss and Lower Revenue http://bit.ly/aLaMuX

DailyFinance: Fed Faces a Dilemma Over Weak Economy http://bit.ly/aatBmn

Douglas A. McIntyre

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