The Twitter-24/7 Wall St. Stock Market Report 5.3 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 BP plc (NYSE: BP), POZEN, Inc (NASDAQ: POZN), TransOcean Ltd (NYSE: RIG), UAL, Inc (NASDAQ:UAUA), Continental Air, (NYSE: CAL), BHP Billiton, Ltd (NYSE: BHP), Halliburton Company (NYSE: HAL), and PNC Financial Services Group (NYSE: PNC)

CNN Money: Personal spending rose 0.6% in March, while personal income climbed 0.3%, government says. $$

MarketWatch: Consumer spending rises above pre-recession level, up 0.5% in March

CNN Money: Dollar falls on Greek bailout

FT: ECB extends lifeline to Greece: Greece is given an unprecedented lifeline by the European Central Bank that will b…

FT: UAL and Continental to announce merger: The parent of United Airlines along with Continental Airlines are expecte…

CNBC: -Warren Buffett to CNBC: “I Don’t See Problem” With Goldman’s Abacus Deal

Douglas A. McIntyre