This article describes a study of the fluctuation in Facebook likes and stock prices in the top 30 most liked companies on Facebook. It was found that 99.95% of the time that there were fluctuations in likes the stock price also fluctuated. Although it can't be concluded that there's a casual relationship, it shows that social media metrics are a real indicator of brand and company performance and like-ability. I think this is particularly interesting given that how to quantify social media engagement seems to be a topic of debate in the digital marketing community. Perhaps there is more to be learned from financial data analysis like this study.
http://www.technewsdaily.com/8380-stock-prices-rise-and-fall-with-facebook-likes.html
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