Twitter has, by most estimates, 175 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 tweets are a sign of which companies the Twitter universe is interested in. Together, these financial sites are followed by nearly 1,000,000 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
USA Today: Bank of America: Fed rejects its dividend hike http://usat.ly/fkpFYm
MSNBC: Quake delays Toyota Prius minivan launchhttp://on.msnbc.com/gm8zNN
Yahoo! Finance: Bank of America says Fed rejects dividend hike plan, but bank intends to resubmit request http://yhoo.it/i5SywT
NYT: BofA’s Dividend Plan Rejected by Fed http://nyti.ms/dIGyl9
NYT: GM Announces Sale of Ally Shares http://nyti.ms/fNFg5T
Reuters: UK budget to show tough deficit goals still in reachhttp://dlvr.it/LBnFb
Douglas A. McIntyre
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