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 that's 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.
While some fund managers are already trying to leverage social media resources like Twitter to find algorithmic trading opportunities, for most investors, crowdsourcing works best as a starting point for investors who want a starting point in their analysis. Today, we'll leverage the power of the crowd to take a look at some of the most active stocks on the market today.
Without further ado, here's a look at today's stocks.
Nearest Resistance: $7.50
Nearest Support: $6
Catalyst: T-Mobile Talk Termination; New CEO
Shares of Sprint (S) are cratering this afternoon, down around 20% following news that the firm's talks to acquire T-Mobile (TMUS) have fallen through. According to Bloomberg, Sprint didn't think the acquisition was worth the regulatory barriers -- but investors clearly disagree with that conclusion based on today's selloff. Sprint is also getting extra attention this afternoon, following the announcement that Brightstar Corp founder Marcelo Claure will take over as CEO, replacing Dan Hesse, who has held the top spot since 2007.
While support is nearby at $6, it makes sense for buyers to stay away for the time being.
As of the most recently reported quarter, Spring was one of John Paulson's top holdings.