The Twitter-24/7 Wall St. Market Report (1/3/2010) Facebook $50 Billion, Hyundai Rules

Twitter  has, by most estimates, 175 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 tweets are a sign of which companies the Twitter universe is interested in. Together, these financial sites are followed by nearly 1,000,000 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

Zerhedge: JPMorgan Strategist Lee doesn’t see market needing QE3 . He also missed QE1, QE Lite and QE2

CNN Money: Bank of America in $3 billion mortgage settlementhttp://bit.ly/fUfI0Y

CNN Money: Facebook worth $50 billion after investment – reporthttp://bit.ly/hsCRLi

Reuters: BofA to take $3 billion mortgage settlement charge http://dlvr.it/CZXKZ

Reuters: Hyundai, Kia eye 10 percent 2011 sales rise after strong Dechttp://dlvr.it/CYgHp

Yahoo! Finance: Report says Facebook nets $500 million investment from Goldman Sachs and Russian investor http://yhoo.it/hpG0y5

Yahoo! Finance: Oil climbs above $92, anticipates economic growthhttp://yhoo.it/ey2DYv

DailyFinance: Facebook Valuation Rises to $50 Billion as Goldman Investshttp://aol.it/eU1PIJ

Douglas A. McIntyre