Users now have access to stocks, cryptocurrency, and other financial assets thanks to a partnership between Twitter and the social trading site eToro. Starting on Thursday, users will be able to use a new tool that will be made accessible on the Twitter app to examine market charts for a wider range of financial instruments and buy and sell stocks and other assets through eToro.
🎉Very excited to be launching a new $Cashtags partnership with @Twitter which will enable Twitter users to see real-time prices for a much wider range of stocks, crypto & other assets as well as having the option to invest through eToro. @elonmusk https://t.co/Iv2q9iNxbf
— eToro (@eToro) April 13, 2023
Users may already look at TradingView’s real-time trading data on specific companies like Tesla shares and index funds like the S&P 500. Twitter “cashtags” will now cover a far wider range of securities and asset classes thanks to the eToro relationship. The partnership marks a rare and noteworthy business deal for Twitter since Elon Musk took the reins as CEO after buying the platform for $44 billion last year.
Since Musk took control, Twitter has drastically reduced the number of employees, going from 8,000 to 1,500, in an effort to decrease expenses and turn a profit.
His actions have spooked advertisers, with many brands leaving the platform despite concerns that its content moderation standards would slip. However, on Wednesday, Musk said that “almost all” advertisers had returned to the app.
Yoni Assia, eToro’s CEO, said that “Fintwit,” or financial Twitter, has become a popular trend on the app.
“There is very high-quality content, real-time content on financial analysis of companies and what’s happening around the world. We believe this partnership will enable us to reach those new audiences [and] connect better the brands of Twitter and eToro.”