The Power of the Blog

Yes there are two posts today! I had to write about this (via IRWebReport) because it really supports how powerful the blog is, who is reading them, and what a popular blog can do to a big company. Engadget, a very popular blog about technology, wrote about how Apple's iPhone would be delayed as well as the new Mac OS X Leopard. The post was at 11:49am yesterday and accordingly Apple stock dropped nearly 3% from 107.89 to 104.63.

Wow! Since then its been outed that the email in which Engadget derived its information was a fake and has been retracted. However, this is a good sign for tools like Monitor110 that look at the blogosphere for various tips that could give you an edge in trading and that information is moving faster than ever. Sometimes there won't be time for an editor to read something over and that's why the blog is a great tool for communication (as long as the information is accurate). But in the dense world of the blogosphere, the tools to find the information you need are going to be more and more important and hence tools like Google and Technorati are going to be playing a big part in determining what is information. Could these new tools be the new Bloomberg of Wall Street? Time will tell.. It just goes to show you the power of the blog, the investors that read them and the power one blog has over a very successful and powerful company.