A new set of forces holds sway over your stock portfolio: Twitter and Facebook.
Evidence of social media’s power to move markets came on April 23, when the Dow fell 150 points after a hijacked Associated Press Twitter account falsely reported explosions at the White House.
Twitter and Facebook are now sources of legitimate financial news too. After investigating a 2012 Facebook FACEBOOK INC.
post from Netflix NETFLIX INC.
that sent its stock up, the SEC ruled in April that publicly held companies could make disclosures via social media.
Expect more tweets about profits — and more difficulty following the market.
Long-term investors should tune out Twitter, says Stamford, Conn., financial planner Matthew Tuttle. Actively trading stocks? Set up a watch list of ticker symbols using an app like HootSuite.
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