BALTIMORE (Stockpickr) -- Put down the 10-K filings and the stock screeners. It's time to take a break from the traditional methods of generating investment ideas. Instead, let the crowd do it for you.
From hedge funds to individual investors, scores of market participants are turning to social media to figure out which stocks are worth watching. It's a concept thats known as "crowdsourcing," and it uses the masses to identify emerging trends in the market.
Crowdsourcing has long been a popular tool for the advertising industry, but it also makes a lot of sense as an investment tool. After all, the market is completely driven by the supply and demand, so it can be valuable to see what names are trending among the crowd.
Nearest Support: $48
Catalyst: Q4 Earnings Home improvement retailer Lowe's (LOW - Get Report) is up more than 5% on high volume this afternoon, following a fourth-quarter earnings beat. Lowe's posted earnings per share of 29 cents per share, but earnings guidance for the full year was $2.60, a number that came in above analysts' $2.53 consensus. That boosted guidance is the catalyst for LOW's upside action today. The gap up in LOW this morning broke shares out of a downtrend that had been in place since the middle of November. That clears the way for a test of shares' $52 top from 2013. Buyers might want to think about scaling into a position in Lowe's here.