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.
Nearest Resistance: N/A¿
Nearest Support: $21¿
Catalyst: MoneyGram Acquisition Rumors
Rumors that Western Union (WU) is in talks to buy smaller rival MoneyGram (MGI) are spurring a big-volume pop in shares this afternoon, driving this money movement and payment services stock more than 7% higher in today's session. While the deal is still in nascent stages, investor speculation that the combined firm will be able to earn bigger profits from their combined scale is what's shoving WU to new highs today.