In the last few weeks Twitter has really crashes into Wall Street in a big way.
Let’s backtrack to the social media site’s latest power moves:
While Cyprus was collapsing, analysts found that it was one of the only ways to get fast, accurate information. It completely beat the sell-side to the punch.
The acknowledgment of that was an informal breakthrough, but now Twitter’s power is being officially recognised.
This week the SEC ruled that investors and companies should be able to communicate through social media — that’s partly because they already are.
Now today, Bloomberg has completely integrated Twitter into its oh-so-ubiquitous terminal.
This is a recognition of the fact that for many traders Twitter is a service they must pay attention to.
Of course, not everyone is excited about Wall Street’s new romance with social media. Warren Buffett’s Berkshire Hathaway is calling the SEC’s new rules to open up corporate communication on social media a “disservice” to investors, according to Bloomberg.
However Oracle is probably too late.
CEOs, Wall Street analysts, and investors of all stripes are already tweeting more than ever, so the SEC’s new rule allowing the use of social media seems like the next logical step.
The change stems from an investigation into the information that Netflix CEO Reed Hasting put on his Facebook page last year. The information was not disclosed in company filings and caused Netflix’s stock to increase from $70.45 at the time of the Facebook post to $81.72 at the close of the following trading day.
The thing is, you can’t put a cat back in a bag.
So ultimately, the agency determined that as long as investors know to look at social media for information, and anyone can get access it, corporate America is fine to use sites like Twitter and Facebook to make announcements.
And speaking of Twitter, Wall Street now has an easier connection to it than ever before. Bloomberg announced that it completely integrated Twitter into its terminals. If you have one, go use the function ‘TWITTER GO’ and see what happens.
Or you can just check out what pops up in the screenshot below:
This is Twitter on Bloomberg. This page allows a user to customise their stream by industry, market, company or Tweeter (people). A user can also make the news flow light or heavy, and perhaps the coolest thing is the “Bloomberg Social Velocity” component.
Under that bar (you can’t see it in this shot) is a list of companies that are trending for the day. When you click on them, a chart pops up that tracks how much the company is being talked about throughout the day in 30 minute increments. You can also see the Tweets that have been Tweeted about the company.
If you’re an analyst, you have to love having the ability to see what people are talking about right at your fingertips.
If you’re a CEO, you should know investors and analysts are watching your company and what’s being said about it.
If you’re Twitter, you’re high-fiving everything.