The 5 biggest social media lessons from 2013
Social media can move markets
On April 23, AP’s Twitter account was hacked, sending a fake tweet that there were “two explosions in the White House and Barack Obama is injured.” In a matter of seconds, the Dow dropped 150 points.
Then in June, activist investor Carl Icahn joined Twitter, first using it primarily as a megaphone in his battle with Dell and later to announce his stake in companies, most notably Apple. On August 13, Icahn tweeted that he had a "large position" in the iPhone maker, pushing the shares of the tech titan up about 5 percent.
Witnessing a single tweet swing the pendulum of markets proved that social media is every bit as valuable to day traders as it is to newsmakers.