HC posts would definitely not contribute to the SP of SP200 companies, but for small-cap companies like GDN, which were significantly hyped up on this forum, I personally think that there is every chance that HC postings have some material effect on the SP.
Look at how many posts/day GDN was receiving on HC during the run to 20.5cps, and add in a margin of silent readers who were not posting but were interested/bought shares in the company. Not hard to imagine some impact on the SP then.
GDN Price at posting:
6.9¢ Sentiment: None Disclosure: Held