The Twitter-24/7 Wall St. Stock Market Report 6.28.2010 The Wisdom Of Crowds

Investing

Published: June 28, 2010 8:46 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 Stock Twits are Eldorado Gold Corp Ltd (NYSE: EGO), Sandisk (NASDAQ: SNDK), Bucyrus International, Inc (NASDAQ: BUCY), Allied Nevada Gold Corp Allied (AMEX; ANV), and Coca-Cola Company (NYSE: KO).MarketWatch: U.S. savings rate rises in May, while personal incomes edge upward http://on.mktw.net/aIKsgP

CNN Money: Personal income rises 0.4% in May while spending increases 0.2%, government says. $$

FT: Delays feared as BP relief bore nears well: Pressure from Washington has steered the energy company into a risky p…http://bit.ly/c6H62v

Reuters Biz: Central banks warn of new crisis if exit left too latehttp://link.reuters.com/quq54m

Douglas A. McIntyre

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