What Did We Learn From The Reddit IPO (hint - data) ...And Trends With NO Friends

Good morning from Phoenix…

I have been working on a new media/site/business launch for Stocktwits if you have been following along here called ‘Trends With Friends’. Right now that has just been a weekly podcast I do with my friends JC and Phil.

The site will be live the first week of April and will kick off another big idea I have been working on with the Stocktwits team that I call ‘Stocktwits Everywhere’ that leverages the 16 years of our community and data as well as some creative distribution aimed at spreading great investing ideas and building audiences for great investment/trading voices.

Where am I going with all this…

Yesterday, The Reddit COO Jennifer Wong was on Bloomberg TV (they had their IPO yesterday and are trading at an $8 billion market cap today) and said the following…

‘Large language models (Open AIneed data.’

She described the company’s 19 years worth of human experience organized by topic, with moderation and relevance - that is incredibly important to building both a chat capability and the freshness of information.

I know of another company - Stocktwits - that is thinking the same thing.

Let me show you an example of how we think about real time unique data and ‘freshness’. A few weeks ago we added ‘price prediction’ capabilities to the Stocktwits message boxes. Yesterday during the Reddit IPO we launched a price prediction competition for the closing stock price…

We quickly had 248 unique price predictions created by people in the community. All very structured.

Soon this will easily rise to the thousands as the community has fun making predictions.

This is just one simple use case and idea.

This may be too much for most people when it comes to ‘how do I get something great from Stocktwits data without being in the weeds all day?’

For that I have been working on a simple product with Riley called Popularity and Price soon to be renamed ‘Trends With NO Friends’. You can sign up for free email here which offers up a few ideas each day based on how Riley and I have been eyeballing the Stocktwits data for many years.

One idea I shared that in this weeks ‘Trends With Friends’ show that is trending with NO friends is CoStar Group ($CSGP)

Costar is a $40 billion dominant company. Think Bloomberg for the real estate investor. They touch every aspect of the market and growing quickly. They also are acquiring all the best assets! The stock just hit all time highs and has JUST 1,000 Stocktwits followers. I love trends with NO friends.

I think you can tell that I am extremely excited about our strategy, plan and work at Stocktwits and this era of data that AI has accelerated for companies like ours that own unique datasets with long histories and continuous freshness.

Have a great Friday.