eToro, a social trading and investing network, has partnered with Twitter to expand the reach of real-time prices for a wider range of stocks, crypto, and other assets using the $Cashtags feature.
Twitter users searching for $Cashtags will now see live price charts for a greater number of financial assets. The partnership will cover $Cashtags representing various instruments on the eToro platform, including stocks, ETFs, crypto, and commodities. Additionally, users will have the option to click through to the eToro platform to gain more information on the asset and invest.
Since December 2022, Twitter has been adding pricing data for $Cashtags, and the feature has seen widespread adoption with over 420 million searches for $Cashtags since the beginning of the year.
There are, on average, 4.7 million $Cashtag searches every day, with activity increasing around significant earnings announcements. On February 2, 2023, when Apple released its Q4 22 earnings, $cashtag searches hit 8 million. The most commonly used $Cashtag was $TSLA (Tesla), with $SPY (SPDR S&P 500 ETF) and $BTC (Bitcoin) ranking in the top five.
The partnership aims to provide Twitter users with additional market insights and greater access to investment capabilities. The use of $Cashtags is part of a growing trend of financial discourse on Twitter. In the first 90 days of 2023, there were 498 million tweets about business and finance globally, with 65% of the tweets coming from users in the 18-34 age group.
Yoni Assia, CEO and Co-Founder of eToro, said that the partnership with Twitter is an extension of eToro’s mission to make investing more inclusive and accessible. The social investing network aims to transform investing into a group endeavor and yield better results by building communities that share knowledge and better access financial markets. Chris Riedy, Vice President, Global Sales & Marketing at Twitter, added that Twitter will continue to invest in growing the #FinTwitter community, as the platform believes that real change starts with conversation and finance and investing are growing parts of that conversation.