Social trading and investing network eToro is partnering with social media company Twitter in an initiative that seeks to enhance access to financial markets data.
The collaboration will result in Twitter users being able to instantly view real-time prices for a broader range of stocks, crypto and other assets via the new $Cashtags feature.
Additionally, users will also be able to click through to the eToro platform to see more information on the asset and have the option to invest. The $Cashtags symbol representing a wide range of instruments on the eToro platform, including stocks and ETFs, as well as crypto and commodities.
“Financial content on social media has provided education to many who have felt excluded by more traditional channels,” eToro CEO and Co-Founder Yoni Assia said. “Twitter has become a crucial part of the retail investing community — it’s where millions of ordinary investors go every day to access financial news, share knowledge and converse. As the social investing network, eToro was built on these very principles – community, knowledge-sharing and better access to financial markets.”
Assia said there is power in shared knowledge, adding that by transforming investing into a group endeavor, it can yield better results and become more successful.
According to the platforms, there are on average 4.7 million $Cashtag searches daily, with activity increasing around prominent earnings announcements.
“Twitter is what’s happening and what people are talking about right now,” Twitter Global Sales & Marketing Vice President Chris Riedy said. “We believe real change starts with conversation and finance and investing is a growing part of that conversation. We are pleased to partner with eToro to provide Twitter users with additional market insights and greater access to investment capabilities.”