Wall Street now tweets

  @Money May 30, 2013: 4:13 PM ET
wall street tweets

Publicly-held companies can now make disclosures via social media.

(Money Magazine)

A new set of forces holds sway over your stock portfolio: Twitter and Facebook.

Evidence of social media's power to move markets came on April 23, when the Dow fell 150 points after a hijacked Associated Press Twitter account falsely reported explosions at the White House.

Twitter and Facebook are now sources of legitimate financial news too. After investigating a 2012 Facebook (FB) post from Netflix (NFLX) that sent its stock up, the SEC ruled in April that publicly held companies could make disclosures via social media.

Related: Best deals in investing

Expect more tweets about profits -- and more difficulty following the market.

Watch Warren Buffett send his first tweet

Long-term investors should tune out Twitter, says Stamford, Conn., financial planner Matthew Tuttle. Actively trading stocks? Set up a watch list of ticker symbols using an app like HootSuite.

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