Like the “#Hashtag,” a $Cashtag is a simple feature you can use to search stocks or business information on social media.
The $Cashtag was invented by StockTwits.com (2013) to tag valuable investment research on businesses in the stock market. Though Twitter later adopted the $Cashtag, you can search for a business by placing a dollar sign before a stock symbol (this feature is only available on Stocktwits.com and Twitter.com)
For example, instead of searching “General Electric” or “#GeneralElectric, you can instead search $GE. StockTwits and Twitter and currently the only two websites that actively use this feature.
*The screenshot provided is a cashtag searched on Twitter (in chronological order). >>>
You can also find valuable speculative charting information with Cashtags. Viewing other analyses from other traders can be informative to give you a different look at the technicals of stock. However, there are cons to using Cashtags.
CONS of using $Cashtags
When searching for any investment information, it’s crucial to understand that there is no perfect investment strategy that works all the time in the stock market. Yes, the needs have bullish results, but it’s essential to understand that nothing is guaranteed.
For example, you will see many charts that look like the screenshot below.
Viewing others’ drawings and calculations on charts can be informative, but it’s for information purposes only.
Price action always wins, and by this, I mean the price will tell you what it’s going to happen next. Always.
Because #Hashtags are trendy, you can still use them to search for new product information such as “#iPhone” or any #(search term). Yet, the $Cashtag is often forgotten amongst investors, don’t forget to take advantage of this powerful investment tool!
Some of the information obtained in this article is from the book, “Social Media Strategies for Investing” by Brian D.Edgar. !
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Information Obtained: StockTwits.com, the book “Social Media Strategies for Investing” by Brian D.Edgar.