Founded by Howard Lindzon in 2008, StockTwits is a social media outlet for investors. It is similar to Twitter in terms of use. However, they limit the content so that members post only things that are related to investing.
They aimed to create a place where traders can share ideas and news about the stock market and the stocks themselves. Furthermore, they also created a specific hashtag, “$,” so that they could organize the content of particular tickers on the web.
There are more than 300,000 users, and most of them are investors or market professionals. In addition, public companies also participate. They share their thoughts and information with more than 40 million people all over the world.
How to Use StockTwits
Just like we mentioned above, StockTwits is similar to Twitter. Users can write only 140 characters per post, but they can also include charts, links, and other data as well. In addition, you can also connect your StockTwits profile with other social media accounts.
How does this platform help you?
The platform itself is free, and there are many benefits from using it. Firstly, it allows you to see which stocks are popular or “trending.” Furthermore, you also get a tool called Heat Map that shows you which sectors are advancing and which ones are going down. If the color is bright, it means that the stock price has moved. This also helps you find stocks many have already invested in.
However, just like with Twitter, you should tread lightly and not overthink most posts. There are verified professionals you can follow, and their advice is more thorough and legitimate. Even though many do not use this data to help them with trading, it is still an excellent source if you just need to confirm what you have already been thinking. Furthermore, it also gives you a boost of confidence if you are new to trading and investing.
Also, StockTwits is a fantastic way to find out what the rest of the trading market is thinking. Not only can you gain more confidence like that, but it also allows you to check in with similar-minded traders as well.
On that note, it is a great place to meet other investors. They might share your style of investing, or maybe they also have similar opinions. In addition, you could also find out more about mysterious strategies which you haven’t encountered before.
Is StockTwits User-friendly?
StockTwits platform is easy to use, and it is not too difficult to learn how to navigate it. Furthermore, there are many ways to conduct research and scan for most profitable opportunities.
They also use Twitter to post valuable information daily. For example, they posted about Hedge Funds that were going to buy and sell Netflix. Not only does that give you an advantage if you have invested in the company, but you could also find out information before it hits the headlines. Therefore, there are many ways in which StockTwits helps you reach the right decision.
The Verdict
Overall, StockTwits is a fantastic platform for both professional and retail investors. The service is completely free, so there are no fees that would diminish your profits. In addition, it is a valuable source of insider information that can help you decide which stocks are worth your time and patience.
The platform runs smoothly and without any hiccups. The best part about it is that you can see which stocks are hot or trending, and search for more information about them. That way, you will be getting more data before you actually invest your money into something.
However, you should not use it as your only source. It is a great tool to have when you lack ideas, and when you need to do something fast. You can quickly log in and do a bit of research, but afterward, you should consider all the factors before investing.
Furthermore, it is also an excellent place to meet and share ideas with other investors and traders that may not have the same skill levels as you. Even though you might not see eye to eye on everything, it is still good to know what other people from the same branch think about particular stocks.
I stopped using StockTwits. too much noise