Rumor Aggregation: Blog buzz and market effects

The company has created a service that combs through thousands of blogs, news sites, chat rooms and other Web sites every day and then surfaces rumors and news reports that might be of interest to traders or corporate public-relations executives. Start-ups like Monitor 110 provide similar services.The idea is to give traders back the early and easy access to critical data that they used to have when this information came through many fewer channels. Back in the 1980s and 1990s, a Bloomberg terminal or subscriptions to news services could give you a jump on the hoi polloi. Today, it’s the masses that often have the jump, thanks to blogs and other tipster sites.

“They aren’t sure where a story will break and how it will break,” said Don Springer, Collective Intellect’s CEO. “Traders are going crazy.”

The system examines about 150,000 new postings a day. Then it analyzes them for sentiment–is it causing a stock to go up or down?–and credibility. The company then sends out data feeds and e-mails on stock activity and interesting news to subscribers.

Read this item from C|Net. Previously from WNM: Markets as Conversations, Blogs gone corporate? Not just yet, not so easily and The money in aggregating content

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Filed under Blogosphere, Business 2.0

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