Investing

The Twitter-24/7 Wall St. Stock Market Report 4.30 The Wisdom Of The Crowd?

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 Dendreon (NASDAQ: DNDN), BP, plc (NYSE: BP), Baidu (NASDAQ: BIDU), Transocean Ltd (NYSE: RIG), IMAX Corporation (NASDAQ: IMAX), First Solar (NASDAQ: FSLR), Cameron International Corporation (NYSE: CAM).

CNN Money: Economy grows for third straight quarter http://bit.ly/dCO1E7

NYT: U.S. Economy Grew at a 3.2% Annual Rate in First Quarter

MarketWatch: U.S. economy expands 3.2% in first quarter, with consumers leading the way http://on.mktw.net/9O5u5M

CNN Money: Apple 2.0: Why iPad mags cost $4.99 each http://bit.ly/dbzLNc $AAPL

Reuters Biz: United, Continental to announce merger Monday: report http://link.reuters.com/vaq22k

CNBC: Steve Jobs Flashes Adobe -> http://bit.ly/9PSVd1 #apple #stevejobs $ADBE $AAPL

FT: The SEC’s strange timing on Goldman: Reports that criminal prosecutors are now looking at the mortgage deal at the… http://bit.ly/98FwTm

United and Continental expected to announce airline merger Monday: reports http://on.mktw.net/aD9hpy

Douglas A. McIntyre