Twitter users can now trade stocks on the platform – sort of
(2023/04/13)
- Reference: 1681400349
- News link: https://www.theregister.co.uk/2023/04/13/twitter_users_can_now_trade/
- Source link:
In what looks to be another move to turn it into Elon Musk's dream "everything app," Twitter will begin allowing its users to trade stocks thanks to a partnership with "social trading company" eToro.
The new feature, which is now live on Twitter and in the Twitter app, sees the addition of a button to Twitter's interface that will allow users to open eToro via Twitter's embedded web browser when looking at certain stocks, ETFs, cryptocurrencies and commodities.
"Following the launch of the eToro partnership, the list of $Cashtags that produce live price charts will be hugely expanded, while users will now also be able to click through to the eToro platform to see more information on the asset and have the option to invest," eToro said in a [1]statement announcing the launch of the partnership.
[2]
Cashtags, for those unfamiliar, are Twitter's embedded method of searching for stocks and ticker symbols, and substitute a dollar sign for the hash symbol traditionally used to tag searchable items on Twitter and other social media platforms.
[3]
[4]
In 2012 when Twitter [5]launched cashtags there were minimal features – clicking on a tag would filter for discussions of a particular stock on the platform. In December of last year Twitter [6]extended the functionality of cashtags by adding pricing graphs for some symbols, powered by financial charting company TradingView.
Now, when searching certain ticker symbols, such as, er, $TSLA, the Twitter website and mobile app show a screen like the image below, with a "View on eToro" button. Clicking or tapping on that opens eToro's web app, where eToro users can invest or join the platform.
[7]
The new eToro button on Twitter - Click to enlarge
eToro, a digital trading platform akin to [8]Robinhood , complete with [9]crypto trading , also partners with TradingView, at least as of [10]late last month , for its own financial charting. That presumably makes it a simple fit to integrate into Twitter's codebase and Musk's [11]ambitions to turn his social media platform into the biggest financial institution in the world.
Musk, whose youthful dreams have long included building an "everything app" he's called X since the PayPal days, have been boosted by his acquisition of Twitter, at least [12]according to the billionaire. Recent [13]legal filings in a long-running lawsuit between Twitter and a right-wing provocateur revealed that Twitter no longer existed as an independent company, and had been folded into Musk's X Corp; a presumably first step toward Elon fulfilling his dreams.
[14]
As we noted in previous coverage of Musk's attempts to build an everything app akin to those in China, the US' antitrust laws and its fractured landscape of companies that have invested time and money into becoming really good at one particular thing doesn't make a one-stop app nearly as feasible.
[15]#CASHTAGS are a thing: you can now bank on Twitter
[16]It's time to reveal all recommendation algorithms – by law if necessary
[17]Elon Musk actually sits down and talks to 'government-funded media' the BBC
[18]Twitter users complain 'private' Circle posts aren't
China's everything app, WeChat, practically has the government's own blessing to operate as a multifaceted provider, as many of the western companies offering competing features have been banned in the Middle Kingdom.
In Twitter's case, instead of putting everything under its own umbrella eToro is simply being given a referral link that takes users right out of Twitter and into someone else's app. That's hardly a way to convince users that Twitter is the WeChat competitor that Musk wants it to be.
We asked eToro about its partnership with Twitter, including querying whether it was going to integrate more fully into Twitter's app in the future. It said it didn't "have any such plans yet, but wouldn't rule further developments out."
The company told The Reg : "There will be several thousand cashtags introduced as part of a gradual process. There was a technical issue with crypto cashtags today but we are working with Twitter to resolve the issue and are looking forward to the partnership covering a huge range and variety of assets."
[19]
Twitter, on the other hand, as is tradition, responded to our questions with a poop emoji. We love you too. ®
Get our [20]Tech Resources
[1] https://www.etoro.com/news-and-analysis/press-releases/etoro-partners-with-twitter-cashtags-to-further-financial-education/
[2] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_onprem/networks&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=2&c=2ZDgnI0-n8YtZ9JL@wMlT-gAAANU&t=ct%3Dns%26unitnum%3D2%26raptor%3Dcondor%26pos%3Dtop%26test%3D0
[3] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_onprem/networks&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=4&c=44ZDgnI0-n8YtZ9JL@wMlT-gAAANU&t=ct%3Dns%26unitnum%3D4%26raptor%3Dfalcon%26pos%3Dmid%26test%3D0
[4] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_onprem/networks&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=3&c=33ZDgnI0-n8YtZ9JL@wMlT-gAAANU&t=ct%3Dns%26unitnum%3D3%26raptor%3Deagle%26pos%3Dmid%26test%3D0
[5] https://money.cnn.com/2012/07/31/technology/twitter-cashtag/index.htm
[6] https://twitter.com/TwitterBusiness/status/1605651865818914816?lang=en
[7] https://regmedia.co.uk/2023/04/13/twitter-etoro-button.jpg
[8] https://www.theregister.com/2021/07/01/robinhood_finra_fine/
[9] https://www.theregister.com/2022/08/02/robinhoods_crypto_penalty/
[10] https://www.etoro.com/news-and-analysis/press-releases/etoro-announces-major-charting-upgrade-in-partnership-with-tradingview/
[11] https://www.forbes.com/sites/dereksaul/2023/03/07/musks-new-twitter-dream-become-biggest-financial-institution-in-the-world/
[12] https://twitter.com/elonmusk/status/1577428272056389633?lang=en
[13] https://www.theregister.com/2023/04/12/elon_musk_talks_to_bbc/
[14] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_onprem/networks&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=4&c=44ZDgnI0-n8YtZ9JL@wMlT-gAAANU&t=ct%3Dns%26unitnum%3D4%26raptor%3Dfalcon%26pos%3Dmid%26test%3D0
[15] https://www.theregister.com/2015/01/20/cashtags_are_a_thing_you_can_now_bank_on_twitter/
[16] https://www.theregister.com/2023/04/13/reveal_all_recommendation_algorithms/
[17] https://www.theregister.com/2023/04/12/elon_musk_talks_to_bbc/
[18] https://www.theregister.com/2023/04/10/twitter_circle_posts/
[19] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_onprem/networks&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=3&c=33ZDgnI0-n8YtZ9JL@wMlT-gAAANU&t=ct%3Dns%26unitnum%3D3%26raptor%3Deagle%26pos%3Dmid%26test%3D0
[20] https://whitepapers.theregister.com/
The new feature, which is now live on Twitter and in the Twitter app, sees the addition of a button to Twitter's interface that will allow users to open eToro via Twitter's embedded web browser when looking at certain stocks, ETFs, cryptocurrencies and commodities.
"Following the launch of the eToro partnership, the list of $Cashtags that produce live price charts will be hugely expanded, while users will now also be able to click through to the eToro platform to see more information on the asset and have the option to invest," eToro said in a [1]statement announcing the launch of the partnership.
[2]
Cashtags, for those unfamiliar, are Twitter's embedded method of searching for stocks and ticker symbols, and substitute a dollar sign for the hash symbol traditionally used to tag searchable items on Twitter and other social media platforms.
[3]
[4]
In 2012 when Twitter [5]launched cashtags there were minimal features – clicking on a tag would filter for discussions of a particular stock on the platform. In December of last year Twitter [6]extended the functionality of cashtags by adding pricing graphs for some symbols, powered by financial charting company TradingView.
Now, when searching certain ticker symbols, such as, er, $TSLA, the Twitter website and mobile app show a screen like the image below, with a "View on eToro" button. Clicking or tapping on that opens eToro's web app, where eToro users can invest or join the platform.
[7]
The new eToro button on Twitter - Click to enlarge
eToro, a digital trading platform akin to [8]Robinhood , complete with [9]crypto trading , also partners with TradingView, at least as of [10]late last month , for its own financial charting. That presumably makes it a simple fit to integrate into Twitter's codebase and Musk's [11]ambitions to turn his social media platform into the biggest financial institution in the world.
Musk, whose youthful dreams have long included building an "everything app" he's called X since the PayPal days, have been boosted by his acquisition of Twitter, at least [12]according to the billionaire. Recent [13]legal filings in a long-running lawsuit between Twitter and a right-wing provocateur revealed that Twitter no longer existed as an independent company, and had been folded into Musk's X Corp; a presumably first step toward Elon fulfilling his dreams.
[14]
As we noted in previous coverage of Musk's attempts to build an everything app akin to those in China, the US' antitrust laws and its fractured landscape of companies that have invested time and money into becoming really good at one particular thing doesn't make a one-stop app nearly as feasible.
[15]#CASHTAGS are a thing: you can now bank on Twitter
[16]It's time to reveal all recommendation algorithms – by law if necessary
[17]Elon Musk actually sits down and talks to 'government-funded media' the BBC
[18]Twitter users complain 'private' Circle posts aren't
China's everything app, WeChat, practically has the government's own blessing to operate as a multifaceted provider, as many of the western companies offering competing features have been banned in the Middle Kingdom.
In Twitter's case, instead of putting everything under its own umbrella eToro is simply being given a referral link that takes users right out of Twitter and into someone else's app. That's hardly a way to convince users that Twitter is the WeChat competitor that Musk wants it to be.
We asked eToro about its partnership with Twitter, including querying whether it was going to integrate more fully into Twitter's app in the future. It said it didn't "have any such plans yet, but wouldn't rule further developments out."
The company told The Reg : "There will be several thousand cashtags introduced as part of a gradual process. There was a technical issue with crypto cashtags today but we are working with Twitter to resolve the issue and are looking forward to the partnership covering a huge range and variety of assets."
[19]
Twitter, on the other hand, as is tradition, responded to our questions with a poop emoji. We love you too. ®
Get our [20]Tech Resources
[1] https://www.etoro.com/news-and-analysis/press-releases/etoro-partners-with-twitter-cashtags-to-further-financial-education/
[2] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_onprem/networks&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=2&c=2ZDgnI0-n8YtZ9JL@wMlT-gAAANU&t=ct%3Dns%26unitnum%3D2%26raptor%3Dcondor%26pos%3Dtop%26test%3D0
[3] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_onprem/networks&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=4&c=44ZDgnI0-n8YtZ9JL@wMlT-gAAANU&t=ct%3Dns%26unitnum%3D4%26raptor%3Dfalcon%26pos%3Dmid%26test%3D0
[4] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_onprem/networks&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=3&c=33ZDgnI0-n8YtZ9JL@wMlT-gAAANU&t=ct%3Dns%26unitnum%3D3%26raptor%3Deagle%26pos%3Dmid%26test%3D0
[5] https://money.cnn.com/2012/07/31/technology/twitter-cashtag/index.htm
[6] https://twitter.com/TwitterBusiness/status/1605651865818914816?lang=en
[7] https://regmedia.co.uk/2023/04/13/twitter-etoro-button.jpg
[8] https://www.theregister.com/2021/07/01/robinhood_finra_fine/
[9] https://www.theregister.com/2022/08/02/robinhoods_crypto_penalty/
[10] https://www.etoro.com/news-and-analysis/press-releases/etoro-announces-major-charting-upgrade-in-partnership-with-tradingview/
[11] https://www.forbes.com/sites/dereksaul/2023/03/07/musks-new-twitter-dream-become-biggest-financial-institution-in-the-world/
[12] https://twitter.com/elonmusk/status/1577428272056389633?lang=en
[13] https://www.theregister.com/2023/04/12/elon_musk_talks_to_bbc/
[14] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_onprem/networks&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=4&c=44ZDgnI0-n8YtZ9JL@wMlT-gAAANU&t=ct%3Dns%26unitnum%3D4%26raptor%3Dfalcon%26pos%3Dmid%26test%3D0
[15] https://www.theregister.com/2015/01/20/cashtags_are_a_thing_you_can_now_bank_on_twitter/
[16] https://www.theregister.com/2023/04/13/reveal_all_recommendation_algorithms/
[17] https://www.theregister.com/2023/04/12/elon_musk_talks_to_bbc/
[18] https://www.theregister.com/2023/04/10/twitter_circle_posts/
[19] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_onprem/networks&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=3&c=33ZDgnI0-n8YtZ9JL@wMlT-gAAANU&t=ct%3Dns%26unitnum%3D3%26raptor%3Deagle%26pos%3Dmid%26test%3D0
[20] https://whitepapers.theregister.com/
What a shame
I love twitter and I've been largely unaffected by the changes since Musk too charge.
But, in recent weeks the rise of assholes on that platform has become a tidal wave that I can no longer bare.
Plus Musk has really shown what a total fucktard he is and I'm not prepared to do anything to prop him up. You gotta have some principles. Fuck him.