Social Media Beat: What The Crowd & Experts Think Of Oil, Biotech & LinkedIn

Social media continues to gain importance in the investment world. Consequently, being updated on what the crowd is saying about stocks and the market has become crucial.

Market Prophit compiles and analyzes social media commentary related to the stock market, and develops statistics that track sentiment for both experts, or Market Prophits, and the crowd.

On Friday, Benzinga had the chance to speak with Market Prophit’s CEO Igor Gonta, who shares some of the most recent trends in the social media space.

LinkedIn

Shares of LinkedIn Corp LNKD fell more than 10 percent on Friday trading, after the company’s results beat estimates on Thursday evening. Gonta explains 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.”

Related Link: Social Media Beat: China, Greece, Crude Oil And The Aetna-Humana Deal

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.

Oil Prices

When prompted about oil prices and how low will they go, the Chief Executive 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 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.”

Biotech

Finally, Gonta went into the biotech industry. He noted that Amgen, Inc. 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.”