April 17, 2023: -Twitter allows users access to stocks, cryptocurrencies and different financial assets via a partnership with eToro, a social trading company.
A new feature will be going out on the Twitter app starting Thursday. It will permit users to view market charts on more financial instruments and purchase and sell stocks and different assets from eToro, and the company told.
Currently, it’s possible to witness real-time trading data from TradingView on index funds like the S&P 500 and shares of some companies like Tesla. That can be done using Twitter’s “hashtags” feature. Your search for a ticker symbol and insert a dollar sign in front of it, after which the app will show you cost information from TradingView using an API.
With the eToro partnership, Twitter hashtags will be expanded to cover far and asset classes, an eToro spokesperson stated.
You’ll also be able to press a button that says “view on eToro,” which takes you to eToro’s site and then trade assets on its platform. EToro uses TradingView as its business data partner.
“As we’ve grown immensely over the past three years, we’ve seen more and more of our users interact and educate themselves regarding the markets,” Yoni Assia, eToro’s CEO, told in an interview.
“There is very high-quality, real-time content on financial analysis of companies and what’s happening worldwide. We believe this partnership will permit us to reach those recent audiences and connect better the brands of Twitter and eToro.”
The partnership marks a rare and noteworthy firm deal for Twitter since Elon Musk took the reins as CEO following buying the platform for $44 billion in the previous year.
In 2007, founded in Israel, eToro became an online brokerage that lets users trade stocks, cryptocurrencies and index funds.
Among its most important features is a function that permits people to mimic the trading strategies of other users. Assia said the company has more than 32 million registered users all over Europe, Asia and the United States.
Under Musk’s CEO, Twitter cut staffing sharply, taking its headcount decreased from 8,000 to 1,500 when it took over to reduce costs and reach profitability.
His actions spook advertisers, with many brands leaving the platform despite concerns that its content moderation standards would slip.