The FinancialPublic has finalized an agreement to acquire the TradeApp investment accounts from Stocktwits. Following this acquisition, Stocktwits will focus on enhancing its core offerings, including community engagement and real-time discussions on earnings and cryptocurrencies.
This strategic move will see tens of thousands of Stocktwits’ brokerage customers transitioning to the Public investment platform, integrating into Public’s broader community.
This acquisition aligns with Public’s strategy to expand its services, despite closing its UK operations eight months post-launch. Public has introduced bonds, high-yield savings, and options trading to diversify its offerings.
Stephen Sikes, COO of Public, stated, “With the recent introduction of bonds, a high-yield cash account, and options trading, Public is positioned as a primary brokerage choice for numerous investors. We are eager to extend our comprehensive services to the Stocktwits user base, benefiting from the similarities between our platforms.”
Howard Lindzon, Co-Founder and CEO of Stocktwits, remarked:”We are focusing more intensely on our foundational social and community aspects and timely discussions, particularly concerning earnings reports. While Stocktwits users can continue to engage with our platform for essential information and updates, they will now also enjoy a full range of brokerage services through Public, including the newly available around-the-clock cryptocurrency trading.”
Transition Options for Stocktwits’ Brokerage Clients
All Stocktwits brokerage account holders will be able to join the Public platform while maintaining access to Stocktwits’ community features and social feeds. The company will remain operational.
Clients reluctant to move their accounts to Public can opt out during a designated 30-day period. Following this, all accounts will be transferred to Public as part of the acquisition closure. Account holders will then have full access to their funds and investments on the Public platform after agreeing to the terms and conditions.
Stocktwits members transitioning to Public will benefit from a diverse array of investment options, including stocks, ETFs, options trading with rebates, cryptocurrencies, bonds, and unique assets such as art and music royalties.
With over 8 million active users, Stocktwits has established itself as a prominent platform in the investment community. Committed to enhancing investor returns, Stocktwits provides valuable community interactions, data, and resources to help users connect, learn, profit, and enjoy the investment process.