A Look At Social Media Sentiment On The Nasdaq, The Euro And Fitbit

As social media continues to gain relevance in the investing world, knowing what the crowd is saying has become crucial. Market Prophit compiles and analyzes how social media commentary related to the stock market, and develops statistics that track sentiment (for both experts, or Market Prophits, and the crowd).

Benzinga had the chance to speak with CEO Igor Gonta on Friday, who provided an updated summary of the most recent trends in the social media space, based on the "wisdom of the crowd."

Nasdaq-100 Index Tracking Stock

Nasdaq hit a new high on Thursday, so Gonta looked into the PowerShares QQQ Trust, Series 1 (ETF) QQQ.

“Currently, the Crowd is bullish while the Market Prophits (experts) have turned neutral,” he said. “This is after both turned bullish on May 8.”

Related Link: Analyzing Social Media Sentiment On Peabody Energy, Netflix And Apple

The Euro

Gonta then took a look at the euro.

“With all eyes on Greece, the euro has been steady recently throughout the unfolding drama,” he explained. “Currently, both the Crowd and the Market Prophits are bullish on EURUSD.”

Related Link: Infographic: Fitbit's Path To IPO

Fitbit

Finally, Gonta took a look at recently-gone-public Fitbit Inc FIT.

“With Fitbit rocketing on its IPO day, it is early days. However, the Crowd is bullish while the Market Prophits are currently bearish on Fitbit.”