The Twitter-24/7 Wall St. Stock Market Report 6.30.2010 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 Tesla Motors Inc (NASDAQ: TSLA), Apple Inc, (NASDAQ: AAPL), Verizon Communications (NYSE: VZ), Citigroup Inc (NYSE: C), Amazon.com (NASDAQ: AMZN), and BP plc (NYSE: BP.CNN Money: Private-sector jobs increase by 13,000 in June, says payroll-processing firm ADP, much lower than economists expected. $$

MarketWatch: U.S. private-sector payrolls rise less-than-forecast 13,000 for June, ADP survey shows http://on.mktw.net/d9NLh7

Yahoo! Finance: China threatens to revoke Google license over decision to redirect traffic to Hong Kong http://yhoo.it/97jJTt

Yahoo! Finance: Passengers sue to block UAL/Continental mergerhttp://yhoo.it/9h5vhn

DailyFinance: Crude Oil Heads for First Quarterly Decline Since 2008http://bit.ly/cZxd94

DailyFinance: How Dell Destroyed $68 Billion in Stock Market Value in a Decadehttp://bit.ly/bn3Orp

DailyFinance: Hurricane Alex to Hamper Oil Spill Clean-Up Effortshttp://bit.ly/bjEeon

Douglas A. McIntyre