Social Media Beat: What The Crowd & Experts Think Of Oil, Biotech & LinkedIn
Market Prophit compiles and analyzes social media commentary related to the stock market, and develops statistics that track sentiment for both experts (Market Prophits) and the crowd.
On Friday, Benzinga spoke with Market Prophit CEO Igor Gonta, who shared some of the most recent trends in the social media space.
Shares of LinkedIn Corp (NYSE: LNKD) fell more than 10 percent on Friday, after the company’s results beat estimates on Thursday. Gonta explained that it has been “a wild ride after earnings (…) as the market digested the earnings beat due to the Lynda.com acquisition and not due to the core business growth.”
Before the earnings release, the Crowd was bullish, while the Market Prophits were bearish. However, as the market digested the news, the stock price collapsed.
When prompted about oil prices and how low will they go, Gonta told Benzinga that some are calling for oil to hit $30/bbl.
“The pain is being felt in the oil patch with Exxon Mobil Corporation (NYSE: XOM) taking a hit,” he explained. “Both the Crowd and Market Prophits are bearish with the Crowd, which was trending bullish, finally turning bearish on 7/28/15.”
Finally, Gonta went into the biotech industry. He noted that Amgen, Inc. (NASDAQ: AMGN) beat earnings and raised its guidance, and this sent the stock “up big.”
According to the expert, “both the Crowd and the Market Prophits are bullish and started agreeing with each other on 7/20/15.”
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