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- Data Is The New Gold and Stocktwits Cashtag Is Gold
Stocktwits indicates whether most users posting on a symbol’s stream over the last 24 hours are bearish or bullish. Sentiment Score are measured on a scale from 0 (extremely bearish) to 100 (extremely bullish).
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Good morning…
All of the internet is telling me that Nvidia is now worth more of all Chinese equities and has passed Amazon in market capitalization (making it the 4th largest US listed stock - thanks goodness I own $QQQ)
Their CEO Jensen Huang is traveling around the world telling leaders like Satya at Microsoft and leaders at the world government summit in Dubai that ‘data is the new gold’
Jensen Huang just called for all countries to develop 'Sovereign AI' at the World Government Summit in Dubai.
In other words, data is the new gold, and every country needs to own the production of its own artificial intelligence.
"You cannot allow that to be done by other… twitter.com/i/web/status/1…
— Rowan Cheung (@rowancheung)
Feb 12, 2024
I believe Jensen.
My partner Matt at Social Leverage is trained in the world of data. He believes Jensen too! He was the chief data scientist at Dan Loeb’s Thirdpoint for six years and before that the co-head of data at Worldquant. Recently he set up a site called ‘Initial Data Offering’ which is a ‘Product Hunt’ for new datasets. The email list is an interesting data set itself 🙂 .
Matt and I met 13 years ago when he was at WorldQuant and purchased our Stocktwits API. We became good friends quickly as he taught me about the data business. I should say, he tries to teach me and I have a leaky bucket.
Now that I am back as CEO, Matt has been helping me and the team refocus on data. Matt shared his thoughts from a high level here in his newsletter:
Stocktwits in the early years had a vibrant data ecosystem. Similar to Twitter, many companies were building on the firehose of data and many investment funds were using the data for investment research and trading. I am excited to see the Stocktwits data ecosystem reopen to partners, investment firms, and fintechs.
Stocktwits invented the $ cashtag $. What is great about Stocktwits is it has passionate users who are fully focused on talking about the markets. Stocktwits community uses cashtags for talking about stocks and all asset classes.
The data is rich with 16 years of history. It covers stocks, FX, commodities, & crypto. The community and data have seen market cycles. Whether you are using the data for finding investment ideas, thinking about building a product on top of the firehose like a sentiment data feed or a summarization feed, or thinking about integrating the data into your brokerage, neobank, or Fintech, the opportunities are endless.
And what about using the data for LLM training? With the explosion in AI, everyone is thinking about the data needs. Stocktwits has some of the richest data on markets. Understanding market cycles, understanding how investors speak, the data is rich.
As someone who previously used the data feed for investment decision-making and met numerous companies that were building interesting derived datasets on the data feed, I am beyond excited to see what people will build going forward. I encourage anyone interested in using the data to reach out to the team at Stocktwits.
You can see one iteration of the data in the sentiment trackers we have on each ticker at the top of today’s newsletter. We have our data science team working to help our users discover people and idea via the data in our system. Our community is going to love the flow of ideas they will be able to more easily tap into in the coming months. It is fascinating.
Another partnership we just announced is with Context Analytics.
On the product side, Stocktwits just rolled out ‘predict’ inside our message box. Here is the new message box…
You can make predictions for up to 1 year. I am excited to be able to help people track their ideas/trades/predictions through the buy, hold and sell.
On Twitter, the message box asks ‘What Is Happening’.
On Stocktwits, I intend to keep moving towards ‘share an idea’ to speed Stocktwits toward being a home of trade and investment idea generation based on your wants/risks/profile/style and strategy.
Have a great Tuesday.
And…hit me up if you want to be a API/data customer/partner of Stocktwits.
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