The Twitter-24/7 Wall St. Stock Market Report 7.26.2010 The Wisdom Of Crowds

Investing

Published: July 26, 2010 8:37 am

Last Updated: January 30, 2014 10:16 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 StockTwits are MACRO, Crocs (NASDAQ: CROX), Power-One (NASDAQ: PWER), Deckers Outdoor Corp (NASDAQ: DECK), Las Vegas Sands (NYSE: LVS), MercadoLibre, Inc (NASDAQ: MELI), and Potash (NYSE: POT).Time.com: Is this Tony Hayward’s last day as head of BP? | http://su.pr/2VdWfG

CNN Money: Madoff investors may have to cough up profits http://bit.ly/bE8ooQ

FT: BP board consider options over Hayward: The future of Tony Hayward, the chief executive of BP who has come under i… http://bit.ly/9iVg6L

MarketWatch: Regulators close five banks; tally of U.S. bank failures for 2010 is now at 101 http://on.mktw.net/95gUCG

MarketWatch: BP board to rule on fate of CEO Hayward Monday http://bit.ly/apQR0v

Reuters Biz: BP’s Hayward to step aside as Gulf work resumes http://link.reuters.com/wap59m

Reuters Biz: Madoff trustee plans more lawsuits: report http://link.reuters.com/geh59m

Douglas A. McIntyre

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