X now lets US users trade stocks straight from their timelines. The new feature is called Cashtags. It started on Wednesday.
Tapping a ticker such as $AAPL opens a price chart and posts about that asset. A Trade button then sends users to a partner brokerage to sign in and finish the deal. Partners include Interactive Brokers, Moomoo, Gemini, Kraken and Coinbase.
The idea of cashtags came from StockTwits in 2008. Back then they only tracked talk about a stock, not trading. Now the ticker links straight to the market.
π The Backstory
X is owned by Elon Musk. The company has been moving into money services. X Money is part of that push into finance.
People have long used the site to talk about stocks and crypto. Viral posts and meme trading have moved share prices before.
Experts told TechCrunch the new link to brokerages could make market manipulation easier. Bots and spammers may try to push the talk one way so a price moves.
π― Why It Matters
Buying a share could soon be as easy as tapping a post. That is handy, but it also makes quick, risky bets more likely. It pays to check who is behind a hot stock tip.
X now lets US users trade stocks straight from their timelines. The new feature is called Cashtags. It started on Wednesday.
Tapping a ticker such as $AAPL opens a price chart and posts about that asset. A Trade button then sends users to a partner brokerage to sign in and finish the deal. Partners include Interactive Brokers, Moomoo, Gemini, Kraken and Coinbase.
The idea of cashtags came from StockTwits in 2008. Back then they only tracked talk about a stock, not trading. Now the ticker links straight to the market.
X is owned by Elon Musk. The company has been moving into money services. X Money is part of that push into finance.
People have long used the site to talk about stocks and crypto. Viral posts and meme trading have moved share prices before.
Experts told TechCrunch the new link to brokerages could make market manipulation easier. Bots and spammers may try to push the talk one way so a price moves.
Buying a share could soon be as easy as tapping a post. That is handy, but it also makes quick, risky bets more likely. It pays to check who is behind a hot stock tip.