The Twitter-24/7 Wall St. Market Report 9/22/2010 Adobe Crushed, Gold Rally

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.

ZeroHedge: Every time Roubini bashes gold it surges. odd

CNN Money: Gold rush continues toward $1,300 http://bit.ly/aAIcjY

MarketWatch: Adobe Systems’ shares plunge 20% as investors sell on below-consensus outlook http://on.mktw.net/cpzp5d

Reuters Biz: Adobe shares plunge on concerns of weak product demand http://dlvr.it/5jmr8

Reuters Biz: Mortgage demand idles despite low loan rates http://dlvr.it/5jcY8

Yahoo ! Finance: AT&T says half a million #iPads use its network http://yhoo.it/cF9DbF $ATT $AAPL $VZ $$

DailyFinance: Research In Motion to Launch iPad Rival: ‘BlackPad’ http://bit.ly/aykWn0

Douglas A. McIntyre