The Twitter-24/7 Wall St. Stock Market Report 6.21.2010 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 most tweeted stocks on market aggregator Top Stock Tweets are GBPUSD, AUDUSD, BP plc, Apple, Inc. (NASDAQ: AAPL), Affymax, Inc (NASDAQ: AFFY), Valeant Pharmaceuticals International (NYSE: VRX), Walt Disney Company (NYSE: DIS), and Verizon Communications, Inc. (NASDAQ: VZ).CNN Money: Apple 2.0: A $109-million weekend for Steve Jobs http://bit.ly/cYoW2f $AAPL

Reuters Biz: Barclays bosses to take stand in Lehman row http://link.reuters.com/xym23m

Bloomberg: Democrats Use BP Oil Spill to Push Energy Bill, Republican McConnell Says $BP #climate http://ow.ly/213T8

CNBC: BP Looking at Bond Offering or Bank Loan to Raise $4 Billion-$5 Billion, Not $10 Billion, CNBC Has Learned http://bit.ly/8ZmqBK

DailyFinance: Will Dell Dump Microsoft for Google’s Chrome Browser? http://bit.ly/aDSVot

FT: Beijing allows modest rise in renminbi: The Chinese currency is permitted to appreciate modestly in the first day … http://bit.ly/bZ1p3d

Douglas A. McIntyre

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