What's the value of being Twitter-famous? Two new stock indexes created by S&P Dow Jones Indices and Twitter will unravel the mystery on Thursday, measuring the performance of the buzziest companies for investors with an eye on social media influence.
The S&P 500 Twitter Sentiment Index will measure the performance of the top 200 companies within the S&P 500 that have"the highest sentiment scores," based on how the social network's users are discussing the stocks, said S&P Dow Jones Indices. The new indexes come as tweets about finance are rising on the San Francisco-based social media site, particularly with the growth of cryptocurrencies. Finance-related conversations were up more than 26per cent in 2020 from the previous year, Twitter said.