For those who keep up with stock market news using Twitter’s real-time feed, searches for each stock ticker have gotten even simpler. Twitter has introduced “Cashtag” this week whereby instead of hashtags, users can tweet the dollar sign in front of stock ticker symbols to get a shortcut search of tweets relevant to that particular company.
The clickable cashtags will bring up conversations and tweets of that company, which could even prove to be useful to saving character limits when posting about a certain business. You never know, in places like Twitter, saving a few characters for typing $AMZN instead of #Amazon or $LKND for #LinkedIn could earn you a verb or two. Since the feature is relatively new, embeds on Storify have no yet reflect the change but should soon update. No word yet if using hashtags and cashtags are interchangeable, since the symbols seem to do pretty much the same thing as far as searches go. And of course, if you are just tweeting about monetary value, Twitter will recognize the difference between stock tickers and dollar amounts.
However, not everyone is thrilled about the new feature, as Howard Lindzon would personally point out. Lindzon, the creator of Stocktwits, whose product does essentially what cashtags currently do (and then some) claims Twitter downright stole the concept despite the fact that the company stated it was not looking to explore the feature.
“It’s interesting that Twitter has hijacked our creation of $TICKER ie. $AAPL. It only took four years to ‘fill‘ this hole, though a few months back they told me in a detailed email it was not a hole they wanted to fill,” Lindzon writes in his blog. “I am disappointed of course that Twitter is hijacking our idea and time (will only confuse the masses), but Stocktwits moved beyond that basic functionality 4 years ago. In a dirty way, it’s the ultimate compliment so we will take it as such for the moment and keep rolling out functionality that makes us the best real-time communication platform for people that love stocks and markets.”
If you’re looking for stock market news on Twitter, would you stick with Stocktwits based on the relationship it already built with businesses or move on to the built-in feature right on Twitter? Sound off in the comments.