StockTwits, which started as a simple application on the social media platform Twitter, is today the largest financial social network in the world with more than two million registered users and millions of monthly visitors.
This stock market are perhaps one of the best alternative ways to learn what’s happening in the market right now and about stocks. Here’s what you should know about this market as an investor.
What is StockTwits?
StockTwits is a social media platform for investors. You can register for free on this platform to keep track of what finance professionals and amateur investors are doing according to market conditions in real time.
On the platform, you can follow your friends, people whose views you like, or companies directly, or if you are especially interested in investing in foreign markets, you can follow the stocks you are interested in and see the latest updates on them.
You wouldn’t have heard of Twitter before, at least as an investor. Here StockTwits looks just like Twitter. One of the most important differences is that markets are spoken most of the time at StockTwits. Another is that cashtag is used instead of hashtags.
For example, developments and comments about Apple traded on NASDAQ or Turkcell traded on NYSE are tagged as $ AAPL and $ TKC. Thus, it is possible to reach instant information and opinion sharing from many experts, investors or companies.
What You Can Do on StockTwits
As with Twitter, StockTwits have a specific character limit for each post, from basic investment tips to reports and analysis of specific companies. You can share up to this character limit or post comments to the posts.
On the other hand, you can follow people whose opinions you value or companies you are interested in, create watch lists and receive warnings about the companies you follow. You can also link your StockTwits account to Twitter, Facebook and LinkedIn profiles.
Being able to follow information about the stock market in real time is an extremely important development for the financial sector. The only problem that appears here is that Twitter has decided to do this by itself. This situation brought Twitter face to face with companies such as StockTwits, which offer live stock market tracking services on Twitter.
Although Twitter’s cashtag feature is good news for those who follow the financial sector closely, it is not possible to say the same for StockTwits, which have received over $ 8 million in investment to date and have over 20 employees. In fact, Howard Linzdon, founder of StockTwits, accused Twitter of “usurping the core property of his company”.
And this side of the whole story. On the one hand, it is not a good idea for platforms with features that provide income for other entrepreneurs to welcome these entrepreneurs. This is like Facebook developing its own games as a rival to Zynga, for example. On the other hand, for startups whose business models are so dependent on Facebook, Twitter and similar platforms, an ever-present risk has once again come to light.
However, apart from all these side effects, Twitter’s cashtag feature draws attention as an extremely important step that can have very important effects and open the doors of many different innovations.
StockTwits and Chartly
Sometimes two services are a match made in heaven. Both StockTwits and the social chart service Chart.ly were founded by Howard Lindzon and are fully integrated today.
This is great news for the StockTwits community, as they will be able to place diagrams and videos on jobsites. Additionally, if you only want to see graphics from other people, you can sort through your stream. StockTwits is a busy site with real-time stock information and popular users open for discussion.