The Twitter-24/7 Wall St. Stock Market Report 6.24.2010 The Wisdom Of Crowds

Investing

Published: June 24, 2010 8:30 am

Last Updated: June 24, 2010 8:32 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 Apple Inc. (NASDAQ: AAPL), EURUSD, GBPUSD, EURCHF, USDJPY, EURGBP, Google Inc (NASDAQ: GOOG), BP plc (NYSE: BP), and Research In Motion Limited (NASDAQ: RIMM)FT: BA recruitment drive reignites tensions: Fresh tensions have flared between British Airways and its cabin crew as …http://bit.ly/cwcgeb

FT: Coffee prices perk up to 12-year high: Low stocks force traders to cover positions after a weaker crop in Central …http://bit.ly/bhKWwz

CNN Money: What the iPhone means to Apple http://bit.ly/cBN6ZY $AAPL

Reuters Biz: Europe digs in on budget austerity ahead of G20http://link.reuters.com/ran83m

Reuters Biz: Lawmakers renew focus on China after yuan stallshttp://link.reuters.com/qag83m

MarketWatch: Kenneth Feinberg stepping down as government pay czar to focus on BP spill fund http://on.mktw.net/dBqXsi

Yahoo! Finance: New iPhone selling briskly in Tokyo, London, Berlin stores on day of global launch http://yhoo.it/bxPFJW #apple

Yahoo! Finance: G-20 countries face split on issue of stimulus spending versus tackling soaring deficits http://yhoo.it/cM8cOe

Douglas A. McIntyre

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