Social media is shaping the way we invest, so I have compiled this quick guide to get you started. All bolded terms will be discussed in further detail in the terminology section.
– www.stocktwits.com This is one of the most visited social media sites out there for investors in the stock market. Think twitter for stocks, and that is the best way to sum up this site. Here you will find no shortage of comments on the latest trending stock tickers, but not all of this information can be useful. While you can find some very insightful posts, it can be tough to sort through all of the chatter to find the most relevant information. After all, the majority of comments posted to stocktwits.com are completely opinion based. This can be an amazing tool to gauge the overall sentiment of any particular stock, and that knowledge can be used when determining if there is enough momentum to move the stock price, whether it be bullish or bearish. That topic gets more into investing psychology, but don’t worry we’ll cover that in another section!
www.discord.com This is a tool that can be used from your desktop or in the form of an app for android & iOS. Primarily functioning as a way for gamers to connect, share ideas and be part of a group of others with a common interest. Investors have adopted this app for building chat groups that center around the stock market. This can be one of the best tools to share ideas, and learn from others. not familiar with discord? don’t worry you can visit this link to help you get started!
www.finviz.com This is a great stock scanner. It was my first exposure to this kind of tool, and until you learn how to build and customize your own, it can be a very helpful one. The free version has a 15 minute delay, so I do encourage you to build your own scanner or find a discord group where others have already done it and can show you their setup.
www.reddit.com This is another way for traders to come together and share ideas, and sometimes it can contain more detailed information on a certain stock ticker. Simply search for the ticker name either on the website or through the app.
Have another social media platform you find helpful? feel free to post it into the comments below!