The Twitter-24/7 Wall St. Market Report: 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 daily top trending  symbols on stock twitter aggregator StockTwits include Goldman Sachs Group, Inc (NYSE: GS), Apple, Inc. (NASDAQ: AAPL), NetFlix (NASDAQ: NFLX), Qualcomm (NASDAQ: QCOM), Ebay (NASDAQ: EBAY), and VMWare (NYSE: VMW)

MarketWatch: First-time and continuing jobless claims both drop in latest week, U.S. data show http://on.mktw.net/a291oo

CNN Money: Fed makes big profit from bailout http://bit.ly/a7eLv6

CNN Money: CenturyTel, Qwest in $10.6 billion merger http://bit.ly/cUfdp0

Reuters Biz: Greek 2009 deficit turns out higher, euro falls http://link.reuters.com/zut88j

Reuters Biz: Verizon profit falls, subscriber growth weak http://link.reuters.com/byt88j

FT: Greek bond yields hit in spite of debt talks: Greek government bond yields are at the highest levels since the cou… http://bit.ly/9q2oI7

WSJ: Facebook announced plans to spread its “social graph” across the Internet. Here’s a recap: http://on.wsj.com/9mP2iP #F8

Douglas A. McIntyre