The Twitter-24/7 Wall St. Stock Market Report 7.2.2010 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 Apple Inc. (NASDAQ: AAPL), Dendreon (NASDAQ: DNDN), and Tesla (NASDAQ: TSLA)CNN Money: Job losses return http://bit.ly/cku0P7

Reuters Biz: GM’s H1 China auto sales top U.S. for first time http://link.reuters.com/tyd55m

Reuters Biz: Blockbuster wins debt reprieve, forced to delist http://link.reuters.com/syd55m

WSJ: U.S. payrolls fell by 125,000 in June as the private sector added few jobs. The unemployment report fell to 9.5%. http://on.wsj.com/c7yl6P

Yahoo! Finance: Payrolls drop by 125K as many census jobs end; unemployment rate falls to 9.5 percent http://yhoo.it/9fS07S

MarketWatch: U.S. nonfarm payrolls contract by 125,000; June unemployment rate drops to 9.5% http://on.mktw.net/aIDzyt

Douglas A. McIntyre