Twitter is a private company owned by Jack Dorsey. It is a social networking site that allows its users to post and send messages to others, called tweets. After the huge success of Twitter, a stock based service was launched few months back, which was based on the twitter platform. Twitter stock service, StockTwits is used by professionals’ all over the world to discuss economies, markets and investments. If you deal in stocks and are familiar with Twitter, then StockTwits is very useful. People always searched the internet when they had to find information about a company, stock tips and with Twitter, the users get important insights. Twitter is different from other social networking sites like Facebook, as its service is based on user following. If a user provides helpful and valuable insights, then he has more followers. With a large following, users can build credibility over a period of time. So, StockTwits, Twitter stock service, can be a great means to get stock advices and opinions from others. ‘Human ticker’ is the term that has started being used for StockTwits.com.
An investor may not make investments based solely on the opinions that he gets on Twitter but these tweets about the stocks and markets can be a great indicator of the market sentiment. He may discuss his investment strategies and can gain comfort in knowing that even others share the same opinion. Because its twitter, it has added greater credibility and people take opinions and messages with sincerity. A person with fewer followers or no followers will not be listened on Twitter and that can avoid a lot of spam on Twitter.
What makes StockTwits work is that in these troubled economic times, when people were scared to put money anywhere; they got support from experienced investors. StockTwits manages to capture the moods and sentiments in the investment market. It is a place where traders, analysts and investors can come together. Its inception was based on the idea that trading is a very lonely profession and something like this can give it a community feeling.
The Twitter stock website, StockTwits was founded this year by a hedge fund manager Howard Lindzon and his partners. It already has thousands of members. Of its members, some are professional traders and rest are eager investors who want opinions and useful insights. Day traders have been using this Twitter stock service actively since it was launched.
StockTwits has very successfully built on the twitter platform. Members can have real time stock conversations as the website sorts all the messages or tweets about a particular stock through its stock symbols. Users of StockTwits can see all the messages and comments made by others about a particular stock exchange or a company in real time.
StockTwits should not be seen as a financial advisor as it does not recommend any buying or selling of a particular stock. Also, the website filters out any opinions on penny stocks and bulletin boards. People can not make useless comments on the website for the fear that they will loose their credibility and followers.
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