I tried to buy the domain TwitterFinance late last night but it was already taken (not by people at Twitter). The reason I started ‘twittering’ at all last May was for the stock conversation.
The nerds have been arguing about Twitter and how it will make money yada yada yada. Dummies. To the nerds Twitter has no financial value because they are talking about………HOLD……
They are early adapters for sure, but the data they create is mostly worthless.
Now one area that should already be up and running is Twitter Finance. Yahoo Finance has been a goldmine for Yahoo and for a Twitter Finance should be a data goldmine and therefore an advertising goldmine. Their first hire should be Soren , a friend, great ‘twitterer ‘ and regular comment contributor. Late last week he created ‘STOCKTWEETS ‘
By now if you use Twitter, you have probably seen people using hashtags (hashtags.org ). Hashtags are used to track conversation on twitter about “things”. The service is opt-in and works by first following @hashtags, then placing a “#” whenever you reference an event, a person, or a place in your tweets.
As Soren says, let’s take advantage of the community of smart traders and investors using twitter and start tracking tweets about stocks in a similar fashion. It will work like this: First, follow @StockTweets which will collect the all data. Then, every time you tweet about a stock or ETF, prefix the ticker a $. By doing this it will be easier for StockTweets to find and track tweets about a particular stock or ETF being discussed on twitter.
Soren already has it rigged up to pull data down from FinViz . So at the close of the markets for example StockTweets could report the top tweeted ticker, its % change on the day, what sector and industry its from etc.
You listening Twitter. Bueller????