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StockTwits Taking Notes On Greek Banking Meltdown

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Monday's meltdown for the Greek banking system didn't go unnoticed on StockTwits.

A post by StockTwits co-founder, Howard Lindzon, left a message on the service, thanking participants for their information.

"This list is great. Here are over 140 ways to trade #Greece," according to the post.

The turmoil in Greece sent markets down worldwide Monday, with major U.S. indexes off nearly 1 percent in early trading.

Perhaps the most common observation by StockTwit posters related to Greece, was that the Greek-focused exchange-traded fund Global X Funds (NYSE: GREK) is likely to be hurt by the Greek bank holiday.

The fund was off more than 16 percent recently at $9.85 a share.

Related Link: Morgan Stanley: Greek Shipping Companies Need Not Worry

Posters also noted that there is uncertainty with regard to the value of the euro, and many noted that Greek bank stocks are at risk.

Athens-based Alpha Bank A.E. (OTC: ALBKY) was off recently more than 32 percent at about $0.06 a share; National Bank of Greece (NYSE: NBG) fell more than 21 percent to $1.01 and PIRAEUS BANK SA (OTC: BPIRY) dropped more than 26 percent to $0.64.

The exchange-traded gold fund SPDR Gold Trust (ETF)(NYSE: GLD) drew lots of comment from StockTwits posters, although its shares were up recently by just 0.2 percent.

According to StockTwits, its posts are viewed by an audience of over 40 million across the financial web and social media platforms.

 

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Posted-In: stocktwitsNews Movers

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