Investment Platform Public Sets To Acquire Stocktwits’ Brokerage Accounts
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Major investment platform Public has made a move to purchase the TradeApp investment accounts of Stocktwits, a platform for direct discussions and news about cryptocurrencies and stocks. The purchase will assist Public in developing its brokerage services, according to the announcement.
Public offers investors several ways to invest their funds, such as stocks, bonds, and options. The platform has added cash accounts that see a huge amount of money in interest and made it easier to trade options.
Public says the move shows that it’s becoming a prominent platform that can provide investors with the tools needed to can manage their finances.
Public Gives Stocktwits’ Users Access To Its Platform
The purchase means tens of thousands of customers who use Stocktwits for brokerage can now access the Public’s platform.
Even though the exact purchase value was not revealed, it’s clear that both companies have already concluded on their plans. The purchase showcases the dedication of both parties to enhance their service offerings and promote community engagement.
Stockwits is renowned for its active and engaging community where members discuss several topics on financial markets, mainly on cryptocurrency and the earnings sector. Its platform provides an environment that offers community-oriented features and is full of great interaction. This has made it highly relevant in the digital finance sector.
The acquisition is projected to take place within the next 30 days. As part of the purchase, Public isn’t only focused on integrating Stocktwits’ TradeApp into its ecosystem. It also wants to collaborate on novel community outreach initiatives.
Public’s planned initiatives include the introduction of Howard Lindzon’s show “Trends with Friends.” The show will utilize both platform’s strengths to improve market engagement and user experience.
StockTwits Plans To Increase Its Major Social And Community Offerings
Howard Lindzon, Chief Executive Officer of Stocktwits, stated that the crypto and stocks-focused platform plans to increase its main social and community offering, potentials, and real-time interactions, particularly around earning events.
After the acquisition, Stocktwits says it will keep on operating its main services independently. It will ensure that all its users can engage with its community discussions and social feeds.
Those who do not wish to transition to Public will be offered a 30-day time limit to opt-out. After the time has elapsed, the remaining accounts will be moved automatically to Public’s platform.
The Chief Operating Officer Of Public, Stephen Sikes, stated that Public has earned the trust of investors after launching options trading and a high-yield cash account.
Its platform is set to become the main brokerage platform for several investors. He also revealed that Public promises to offer a wide range of services on its platform to StockTwits customers.
