Social media is not used only for personal needs. More and more people nowadays use it to do business. Among them are the stockbrokers and market traders. This, however, is not a well-known fact. That is because most of the market players who use social media in their work like to keep that a secret. You may ask why that is. Well, some traders create a social profile only to research the market news and trends. They are like business spies who are following and even creating the latest stock news.
If you are a stock martet trader and you have no idea what we are talking about it, or you are simply curious to find out how market players use social media in their work, then you should continue reading.
Follow Stock Price Tendencies
Social networks, like LinkedIn and Twitter, have their own search engines within their platform. They allow users to search among thousands of posts that were published on the network. In that way people can easily get real-time results and learn the latest news, trends and tendencies.
Stockbrokers like to take advantage of the social features too. What they are actually doing is following the posts of other stock traders. Through them brokers can learn valuable information about certain stocks and they can even try to determine their price in the near future. That, in stock market terms, is known as “stock picking”.
Apparently, Twitter is aware of the popularity of their social network among stockbrokers, because the company recently introduced the so-called “cashtag”. Now users can highlight stock information by adding a dollar sign before the stock symbol. By clicking the link of the cashtag, stockbrokers can view all the latest stock market tweets. Despite being limited to only the biggest stock companies and firms, the new feature is gaining popularity fast.
Control the Situation
Many stockbrokers and market traders use the social media to send out information about the stocks. Some of them even practice the illegal activity of “stock bashing”. They spread false or exaggerated info about companies and in that way they try to decrease the value of their stock. Regulators follow the news in the social media and if they see such posts, they can cut the price of the stocks. When the price devalues, the stockbroker buys the stock for a very low price. Illegal or not, there are many bashers on the social networks. This happens of course elsewhere, but not in Dubai!
Social websites are based on large and multifunctional platforms. Social media is one of the best online tools that stockbrokers and market traders can use. They offer brokers millions of information sources, tracking functions and a chance to spread messages.
*By New Media Group – the most powerful independent content marketer and social media services provider in Dubai and the wider region. The firm publishes www.dubaichronicle.com, www.bride-wedding.info and it is preparing the launch of www.abudhabichronicle.com. For inquiries, please write to Info@newmediagroup.biz.