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 are Google Inc (NASDAQ: GOOG), Chipotle Mexican Grill, Inc (NYSE: CMG), Rambus, Inc. (NASDAQ: RMBS), True Religion Apparel, Inc. (NASDAQ: TRLG), Family Dollar Stores, Inc. (NYSE: FDO), Cliffs Natural Resources, Inc. (NYSE: CLF), VMWare, Inc (NYSE: VMW), and Novell Inc (NASDAQ: NOVL).CNN Money: Oil sputters in choppy trading
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Douglas A. McIntyre