July 19 (Reuters) – Stocktwits.com launched equities buying and selling on its social media platform for particular person traders on Tuesday, months after it introduced out crypto buying and selling, betting {that a} extra related neighborhood can navigate dire inventory markets.

A preferred venue for exchanging buying and selling concepts, Stocktwits was among the many on-line message boards that helped retail traders band collectively to drive eye-watering positive aspects in meme shares resembling GameStop (GME.N) and AMC (AMC.N) final 12 months, squeezing bearish hedge funds.

Buying and selling will instantly be obtainable on the platform by Stocktwits’s broker-dealer subsidiary, ST Make investments LLC, and customers can select to make their trades public, the corporate stated.

“You may present your neighborhood that you just really personal the inventory that you just’re speaking about and that can assist construct belief locally,” stated Rishi Khanna, the chief govt officer of Stocktwits.

Buying and selling exercise of particular person traders has waned from the highs of 2021, as fears of rate of interest hikes and surging inflation dragged the S&P 500 (.SPX) down 19.6% this 12 months.

Stocktwits has greater than six million registered customers and a million month-to-month lively customers. It provides commission-free and fractional inventory buying and selling, which are inclined to entice particular person traders that can’t shell out hefty per-share costs.

The New York-based firm is now centered on launching choices buying and selling on the platform within the fourth quarter, together with a paid subscription for information that analyses retail investor sentiment and exercise.

Crypto buying and selling was the primary buying and selling functionality provided by the platform in February. learn extra

The equities buying and selling possibility will solely be obtainable to iOS customers initially, and shall be adopted by releases for the net and Android variations, Stocktwits stated.

Reporting by Medha Singh in Bengaluru; Modifying by Amy Caren Daniel

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