The Twitter-24/7 Wall St. Stock Market Report 7.13.2010 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 Alcoa (NYSE: AA), BP plc (NYSE: BP), Apple Inc (NASDAQ: AAPL), EURUSD, GBPUSD, Research-In-Motion (NASDAQ: RIMM), and Vivus Inc (NASDAQ: VVUS).NYT: BP Says New Well Cap Installed – http://nyti.ms/dC7FIf

CNN Money: Apple 2.0: iPhone 4: The Consumer Reports fiasco http://bit.ly/cvznPn $AAPL

WSJ: BMW Raises Outlook http://on.wsj.com/atVdh0

CNN Money: Moody’s downgrades Portugal’s debt http://bit.ly/9V1sdL

MarketWatch: Alcoa swings to profit, raises demand outlook by up to 12% http://on.mktw.net/a7ojBA

Reuters Biz: Goldman may seek extension in SEC case: report http://link.reuters.com/jyc37m

DailyFinance: Moody’s Downgrades Portugal Debt http://bit.ly/cbvOWF

Douglas A. McIntyre