The Twitter-24/7 Wall St. Stock Market Report 6.29.2010 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 most tweeted stocks on StockTwits are Micron Technologies, Inc. (NYSE: MU), SPDR Gold Trust (NYSE: GLD), Research In Motion (NASDAQ: RIMM), Apple Inc. (NASDAQ: AAPL), Market Vector Gold Miners ETF (NYSE: GDX), and AQ123 Systems, Inc. (NASDAQ: AONE).ZeroHedge: ECB site back up in time to report failed sterilization auction

CNN Money: 10-year Treasury yield below 3% http://bit.ly/9fX54o

EconBizFin: Headlines: Stocks/euro slide on fears about euro banks and Japan/China economies; Google tries to avoid China shutdown http://ow.ly/24DHD

Reuters Biz: Strikes hit Greece and Spain as ECB deadline looms http://link.reuters.com/tap74m

FT: Spanish banks rage at end of ECB offer: Spanish banks lobby the Bank to ease the systemic fallout from the expiry … http://bit.ly/beGmZo

MarketWatch: #Tesla Motors revs up $244 million IPO: 1st American car since #Ford to go public http://bit.ly/cYBz36

Douglas A. McIntyre