FinTwit, have you heard of it? It’s Twitter’s answer to StockTwits. It’s a site where you can see what other people view and trade.
However, it does not appear to contain the manipulation that StockTwits is notorious for. Not yet, at any rate.
FinTwit is a significant online finance community characterized by hashtags, discussions, and trends. It’s not just a platform, it’s a phenomenon that brands should note.
The data indicates that younger users are more interested in NFTs and cryptocurrency, while older users seek investment and financial advice.
The community has grown substantially, with a 102% increase in Asia, 19.7% in North America, and 57.3% in Europe from August 2021 to August 2022.
Surprisingly, the audience is trending younger, with 35% of Asian users aged 18-24 particularly drawn to cryptocurrency discussions. While FinTwit isn’t exclusive to younger audiences, the reasons for joining vary based on age and location.
What Does Fintwit Mean?
FinTwit, short for Financial Twitter, is a valuable tool for investors despite its name sounding like an insult or fishing gear. Even though Twitter changed its name to X after Elon Musk’s purchase, it’s still commonly referred to as Twitter.
FinTwit is a vibrant community of mostly amateur investors who openly share their investment ideas, due diligence, and research on Twitter.
Some users discuss their investment strategies, others share in-depth research on specific companies, and some even disclose their trades.
It may seem like a subgroup of Twitter users, but some influencers within FinTwit have a significant following. It allows them to impact the market positively or negatively.
Twitter, like other real-time social media platforms such as Reddit, has become a hub for information in the digital age. Almost everything on Twitter can be found and discussed, including time-sensitive financial information.
If you’re hesitant about sharing your investment thoughts on FinTwit, there’s no need to worry. A small group of influential FinTweeters led the ongoing conversation, and many participants preferred to observe rather than actively engage.
Regardless of where you obtain your investing information, witnessing the evolution of investing from checking ticker symbols in newspapers to the instant accessibility of financial insights on platforms like FinTwit (now X) is remarkable.
To find key figures in the FinTwit community, you can use the search function on Twitter. Simply type in “FinTwit” or “Financial Twitter” to get a list of top contributors in the FinTwit community.
Who Are FinTweeters?
While FinTweeters on Twitter can offer valuable insights into investing, it’s crucial to be cautious and not blindly trust information from random strangers.
While many participants in the FinTwit community are legitimate, working in the investment industry or for reputable sites. It’s important to remember that a free social media platform shouldn’t be your sole source of research, especially for financial decisions.
Some FinTweeters may have websites or blogs providing more in-depth coverage, and those with a substantial following and open communication might be slightly more trustworthy. However, verifying information from multiple sources is always wise before making financial decisions.
How Do You Find FinTwit?
Getting involved in the FinTwit community is straightforward. To join, search for relevant keywords or hashtags on Twitter. Look for ticker symbols with a $-symbol, such as $FB for Facebook or $TSLA for Tesla. Follow discussions, create a custom list of FinTweeters, and receive instant notifications for their tweets, streamlining your information feed.
You can stay updated on investment advice if you subscribe to services like Bloomberg or the Motley Fool. Setting up alerts for favorite FinTweeters ensures you’re always informed, making your mobile phone a key tool for staying on top of investment news.
But FinTwit Can’t Be That Influential, Can it?
You’d be shocked at how easily people trust what others say about a chance to make quick and easy money and this lays Twitter’s evil side. Many contributors and FinTweeters want to help people, but Twitter also has a nefarious side that seeks to profit from the platform.
Beware of the Pump and Dump
Twitter is known for pump-and-dump schemes, which can be risky for new investors who believe they’re following good leads. Pump accounts on Twitter often use false or redundant information to boost a stock’s price artificially. Once the price rises, they sell their shares for a profit, leaving new investors with a declining stock.
These schemes commonly target low-volume penny stocks, which are inexpensive and easier to manipulate due to low trading volumes. However, not all Twitter investment activities are negative. The FinTwit energy community gained attention by collectively shorting some U.S. shale companies, accurately predicting their bankruptcy.
Many FinTweeters in the energy community are industry professionals turned investment experts with valuable knowledge and experience. Some have made significant profits, such as one individual who earned over $4 million by shorting the shale industry in just one week.
While there is valuable information and advice on Twitter, it is crucial to filter out the noise and conduct thorough research to complement what you find on the platform.
Conclusion
In today’s fast-paced investment landscape, everyone is seeking an edge, from individual investors to hedge funds. Access to information is constantly available anytime and anywhere. FinTwit, or Financial Twitter, is a powerful yet often overlooked tool in an investor’s arsenal.
The accounts within the FinTwit community are generally legitimate. If you find a reliable one to follow, the information you gain can be highly valuable. FinTwit is a go-to source for market news, real-time data, and trades.
Like StockTwits and Reddit, the individuals sharing their opinions are real and most genuinely try to assist others in the investment space.
FAQs
Is Fintwit similar to Twitter?
Fintwit is a user on Twitter. It’s a forum where traders discuss stocks and other financial instruments.
How can I find quality FinTwit sources?
Use relevant keywords or hashtags like “$TWTR” or “financial twitter” in Twitter’s search function. Look for accounts with substantial followers, engaging content, and a positive reputation.
What should I look for in a reliable FinTwit source?
A credible FinTwit source typically has a professional background in finance, investment, or related fields. They provide transparent and well-researched information, and their followers often engage positively.
How can I filter out unreliable information on FinTwit?
Be cautious of accounts with a history of promoting pump-and-dump schemes or sharing false information. Verify claims through additional sources, and consider cross-referencing information from reputable financial news outlets.
