Twitter storms financial industry, but best use may be as information tool for hedge funds

Post on August 18, 2011

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According to Corporate Insight, Twitter has surpassed Facebook as the most popular social network to be used by financial services firms. 67% of the financial firms tracked by the research firm have a Twitter presence, a 10% growth in 10 months over Facebook (which only grew to a 59% presence, a 3% growth rate).

The research company also says that when it first started tracking social media in the summer of 2008, very few financial firms were experimenting with their presence online, and first moves for many were into Facebook. Since then, Twitter has exploded in popularity in the financial industry and the comfort level in that medium has been palpable, with sites such as StockTwits now boasting over 100,000 users.

 

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