IDEA #31 – Stock Market Social Media Tracker

Categories
Uncategorized

From Eric Nagel, friend and colleague (from an IM conversation, so apologize for the brevity and not backing up the sources of these numbers):

I heard an unbelievable fact… 50% of all US stocks are held by 1% of all the shareholders in the world and 90% of all stock is held by like 10% of the shareholders of the world. So 90% of the shareholders in the world only own 10% of the stock out there.

The Idea: Use social media to provide some additional data/feedback regarding stocks. How many times is a company’s name [or ticker] mentioned in the press? Mentioned on blogs? (Possibly create a Techmeme site for stocks). Does this at all correlate to the actual stock price of a stock? When news hits from one of the primary press sources (CNBC, MarketWatch, WSJ, etc) — what typically happens to the stock? Who are the competitors of a stock — what’s their P/E compared to the others and are they all trending in any direction? How does one sector influence another (are any dependent on another — or do any shift when another sector shifts)?

The application would likely need to know how to parse out key information from an article — such as information on an earnings announcement, or whether bloggers are hyped (or loathing) about something.

What other data / analysis could be found (or derived) from the web or blogosphere?