Elon Musk’s Twitter is working with investing platform eToro in an effort to let users access stock, crypto, and other asset information in real-time, and enable the trading of these, eToro announced on Thursday.
The trading information will be accessible through a feature called Cashtags, which launched in 2022 and lets users interact with information about an asset by inserting a dollar sign (instead of a hashtag, as they would normally use for search) in front of a company’s ticker. Cashtags has an average of 4.7 million searches a day, and 420 million searches for Cashtags since the start o the year.
“Financial content on social media has provided education to many who have felt excluded by more traditional channels,” said Yoni Assia, CEO and co-founder of eToro, in a statement. “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.”
Before this feature, Twitter users were able to view real-time trading information from TradingView, which creates charts of market prices. The feature only gave users access to certain assets such as the S&P 500 stock index and specific companies like Tesla
TSLA,
which is also led by Twitter CEO Elon Musk.
Twitter did not immediately respond to a request for comment from MarketWatch.
Twitter, which was acquired by Elon Musk in October 2022 for $44 billion, has brought changes to how the company is run, including mass layoffs, and charging a subscription fee for blue checkmarks.
Last week, Musk changed the blue bird Twitter logo briefly to that of a Shiba Inu dog, resulting in a 30% jump for cryptocurrency dogecoin
DOGEUSD,
The price then fell after the logo was changed back to a bird.
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