Stocktwits work as a unique social networking platform made essentially for investors and traders so that they can get together and share their ideas, thoughts and the latest news in real time. Since the information and news presented in Stocktwits may not always be reliable, the users are required to perform their own due diligence prior to use the information presented in this platform. This can provide a certain level of assurance while dealing with the information that can be found in the website. However, one of the best things about Stocktwits is that it allows traders to stay well informed about stocks and other important news from the financial world.
The messaging platform of Stocktwits can be used by traders when they are looking to share ideas, news and tips about some specific securities or the latest trends from the world of stock market. Over the years, Stocktwits has evolved into one of the most vital information resources for traders when they want to stay abreast with the latest ideas of the business and financial world. The Stocktwits platform also competes with other information sources of similar nature that the traders and investors use when they are looking to make important decisions regarding business and investments. Compared to many of the other traditional websites offering financial news, newsletter platforms, alternative news sources and modern trading apps, the information presented in Stocktwits is really comprehensive and can be used for a broad range of decision making tasks.
The important thing to remember about Stocktwits is that even if it is free, the information that is presented in it should be verified by other means so as to make sure that they are completely genuine. People involved in the world of trading often wonder whether they should explore the news and information that are offered at StockTwits or consult some of the other platforms that offer financial news. This is why it is so very important to go through a review of Stocktwits to know if it is of real value to the traders and investors.
Stocktwits Platform Review
In many ways, Stocktwits function as Twitter for the trading community. Therefore anyone familiar with the tools and functions of Twitter can easily get used to the various features of Stocktwits.
The members of Stocktwits can share short and specific information posts that are relevant to certain specific stocks. They can also make use of ‘cashtags’ for linking their Stocktwits posts to such securities. The other members of the platform can have access to different kinds of tools when they are looking to navigate through the messages so that they can find the information that is relevant to them.
The traders who have already explored some of the other online trading forums are going to find that Stocktwits functions in a way very similar to the other ones. However, the features and tools that come with the Stocktwits platform are highly concise. It also provides information that is precise and relevant and can be used for taking essential actions that are good for trading.
This makes the Stocktwits platform very different from some of the other types of online trading forums used by traders which can provide information that you may not be able to use for handling trading tasks. Such information tends to be general in nature and explore broader categories.
The Stocktwits App is also one of the most user friendly apps of its kind and can help people to have all the various types of information that can be found on the desktop version.
The tools that come with Stocktwits provide numerous important functionalities and they can help in navigating a wide range of messages which are posted regularly every single minute of a day on a daily basis.
The users can make use of these tools to sort through the messages by definite sectors or securities, look out for the latest and most relevant trending topics, search for bearish and bullish securities and perform many other functions.
The streams of posts and information found in Stocktwits can be classified into Suggested, Trending, Charts, Forex, Futures, Equities and Private Companies.
The well known ‘heat map’ feature that comes with Stocktwits is considered to be one of the most widely used tools in this platform. This makes it possible for the users to compare and look through hundreds of different types of securities according to their market sentiment and activity.
The platform of Stocktwits also comes with a watchlist which can be used for tracking the best and most popular stocks available in the market.
The best thing about Stocktwits is that it allows users to navigate through the platform quickly and effectively which really saves a lot of trouble for the users. This is what makes Stocktwits one of the most popular social networking platforms for the trading communities.
Stocktwits and Robinhood
StockTwits joined hands with discount broker company Robinhood a couple of years ago for coming up with a unique cross-platform functionality.
By choosing to work with this cross-platform functionality, traders can easily shift back and forth while trading securities with Robinhood as they hold discussions on Stocktwits. This can help the traders to come up with a powerful trading technique on Robinhood as they have access to the latest trading information as it can be found on Stocktwits.
Stocktwits as a Highly Relevant Information Resource
A lot of traders consider evaluating Stocktwits and its worth as a source of information because they want to decide whether the value of the news and information as it is presented in the platform is reliable or not. The platform is shared by thousands of traders on a regular basis and therefore the question of whether it is sufficiently good or not often comes into play.
Only a handful of people have had negative experiences while working with Stocktwits or had difficulty in navigating Stocktwits and/or getting hold of the information associated with the topics and securities that they are curious about. Instead, most of the negative feedback associated with Stocktwits is about the actual content and information that is shared on the platform.
The problem with Stocktwits is that it is largely unregulated, unchecked and unmoderated. This means that the individual users need to check and make sure for themselves that the information they use from this platform is reliable or not. They should also do their due diligence before ignoring any information that is presented in the StockTwits platform. While it is true that Stocktwits can offer a lot of valuable and important information from well known and reliable sources, it also offers a lot of information which can be incorrect, malicious, ill-informed and unverified. Therefore it is necessary that traders and investors who are using the information as it is presented in Stocktwits thoroughly check their relevance and reliability before they use it for their trading purposes. A lot of traders in the past have complained about the fact that the information presented in the website is not really reliable and this has led to a lot of complaints. This is why a lot of traders prefer to use traditional and time tested sources of information that they believe is much more reliable and accountable.
Such traditional sources do lack in a very crucial area. They can never really provide with the wider range of information that can be found with Stocktwits. This is why thousands of traders rely on Stocktwits when it comes to learning about the latest trends from the world of trading.
Types of unreliable information as found on StockTwits
There are certain types of information found on Stocktwits that are not reliable in terms of efficiency and relevance. Anyone looking to use Stocktwits for their trading goals must learn about these low quality data and information that they must avoid at all costs.
One of the areas of concern associated with the information presented on Stocktwits relates to self promotion. In other words, there are a lot of people that offer information which is all about promoting a company or an organization that they work for. There can also be people who promote a security firm that they own or are associated with. Such types of information are only filled with biased perspectives and they often try to bend the truth in order to suit their specific needs. In many cases, they also spread outright lies that are meant to spread beliefs which they can benefit from.
Such self promotional ideas can be easily uncovered as they normally refuse to engage or interact with contradictory information and ideas. They mainly repeat the things that are in line with their self promotional perspective. The main goal of these companies is to create a dialogue among people that favors their business goals so that other or opposing perspectives steadily die out. This can help them to convince people of the viewpoint that they want to preach.
Lack of Proper Credibility
Traders who choose to use Stocktwits and find information that they need are often shocked by the absence of credibility for a lot of information that can be found in the website.
The traditional channels of financial information usually make use of financial professionals as references. This helps them to comment on areas that they are familiar with. It also ensures that the people have a better understanding of the topics that they cover. On the other hand, the channels of information that are used in Stocktwits mainly rely on standard social media methods when it comes to establishing popularity. This means that they mainly use post counts, likes and reposts, which means that there are a lot of misinformation or fake news on the platform. This is a very poor way of asserting credibility within the financial world. Even though it is possible to detect and find the posters of such misinformation, it can actually take a lot of time to do so.
Since the Stocktwits platform is predominantly unregulated, there is a high chance of very low signal-to-noise ratio for the users of the platform.
A lot of Stocktwits users frequently complain about the large volume of information and opinions for each and every security. This makes it very difficult for a trader to form any kind of solid opinion that they can use for trading. The users interacting with the information presented in the platform find that they cannot really take a stand against bullishness or bearishness. Moreover, it becomes very difficult for them to identify and define any information so that they can formulate an opinion. The reason for this is that there is a lot of conflicting information that the people have got no idea how to deal with.
While it is true that the value of Stocktwits has really enhanced ever since the platform first saw the light of day, there is an increasing importance for the users to do their due diligence before they go ahead and use the information as it has been presented in the website. An individual trader who intends to use the information presented in StockTwits can find all sorts of details in the website and they should have a discerning approach when it comes to using such details. It also depends on the type of a person and a trader an individual is when it comes to using the information presented in the site.
Traders who are always trying to search for a new and fresh look on trading matters and find it easy to deal with different types of information regarding such matters can find the posts in Stocktwits really helpful. However, for those who find it difficult to deal with such large chunks of information and would rather do with only specific bits and pieces of details may find Stocktwits to be a tad distracting. While StockTwits does offer a lot of reliable and actionable information, it can take some time on the part of traders to find them.
Exploring the World of Financials and Stock Investing
Having now read through our massive Stocktwits reference and resource guide, you should have a much better understanding on the site and what it’s all about. If you’d like to discover other new and exciting sites similar to this one, be sure to check out our list of top cryptocurrency blogs and stock trading sites.