You guys know I’m a big believer in Twitter (you can follow me HERE), I’ve even created a “TIMhelp” profile (which you can follow HERE) to answer any questions you might have so now that StockTwits.com, a new website that takes and organizes finance/stock related Tweets/commentary, has really started taking off, I knew I had to be a part of it.
Basically, it’s Twitter except if you include a ‘$’ sign before a ticker or a ‘$$’ sign in any of your Tweets, your message gets posted on StockTwits creating an extremely organized and data-mining friendly finance site.
Since it’s a private company–not an actively traded stock–I’ve only taken a small stake (especially considering my experiences with CYGT), but I think the risk/reward is great because of the following factors:
1. This is Howard Lindzon’s puppy, he’s got the skillset and connections to make this thing into a five- or ten-bagger just like he did with MyTrade.com & WallStrip. Add in Soren’s masterful design work and you’ve got a probable winner.
2. Expenses are minimal, it’s all user-generated content and unlike the vast majority of social networks out there, this content has value, mainly because the users are knowledgeable and sophisticated in an industry where the vast majority of the participants are not.
3. Unlike online ticketing, StockTwits operates in a niche I understand. I understand exactly how much better/practical Twitter’s infrastructure is for stock and finance commentary and I can’t wait for big finance portals like theStreet.com, Yahoo! Finance, Google Finance, MSN Money etc. to realize it.
4. I, along with many other financial bloggers who already love the service are gonna promote the hell outta it because a.) it’s quality b.) it’s innovative and c.), most importantly, following, nurturing and participating in the conversation makes us better traders/investors and whether we’re investors or not, it helps make us more profitable.
Check out some videos and screenshots of exactly what StockTwits is all about and get excited as I am about it:
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