Twitter and eToro, the social trading network, have teamed up to expand financial information available on the platform and make it easier for users to buy stocks and cryptocurrency. The existing $Cashtag format, which previously allowed finance-inclined users to click a financial hashtag to see more data on particular stocks, will now be expanded to provide real-time data. The data will continue to be provided by TradingView, a market tracker and existing eToro partner, as reported by CNBC.
The updated search will also feature an eToro button under the live price charts, which will direct users to eToro’s platform for more information and potentially invest. While anyone can access the statistics, eToro will prompt visitors to create an account before making any investment decisions.
Twitter’s Vice President of Global Sales & Marketing, Chris Riedy, said in a statement that the company is openly trying to diversify its offerings, aiming to provide “additional market insights and greater access to investment capabilities”. According to Twitter, there were 498 million tweets related to finance or business in the first quarter of 2023.
In recent years, Twitter has undergone significant changes to cut costs and boost revenue. The company let go of 80 percent of its workforce under Elon Musk’s leadership as CEO, and launched an updated subscription model promising Blue ticks, fewer ads, and increased tweet visibility for $8 per month. Additionally, developers were forced to pay for a basic API or risk losing access to the company’s firehose. These changes followed reports of over 500 advertisers pausing spending on Twitter.
