, an investing website offering Twitter-like chatter on U.S.-listed stocks, will be adding tickers of Toronto Stock Exchange-listed companies on Thursday.
The San Diego-based website, co-founded by hedge fund manager and entrepreneur Howard Lindzon in 2009, tracks discussions in real time on stocks. Professional and retail investors share their ideas in 140-character messages, which may include links to charts and other material.
Canadian stocks are a natural next step in a global expansion strategy because they are of interest to U.S. and other investors, Mr. Lindzon, chief executive officer of StockTwits Inc., said in an interview. “Oil and gas and metals are popular so that is just a perfect fit for an [international] launch,” he said.
StockTwits also pulls in tweets about companies from other sites, he said. “Conversations can all happen on StockTwits.com no matter what platform you are on.”
The company derives revenues from public companies paying a monthly fee to use its ticker page on the site to provide information on earnings and monitor messages, he added.
Canadian inter-listed firms that have signed up to use this investor communication tool include NovaGold Resources Inc. , Telus Corp. , Silver Wheaton Corp. , CGI Group Inc. , Potash Corp. of Saskatchewan Inc. and Pacific North West Capital Corp.
While more than 100,000 people have set up accounts on the StockTwits to post messages, “We estimate the distribution network reaches upwards of 40 to 50 million views,” said Francis Costello, the firm’s chief operating officer. , along with other media outlets and social sites, is linked to StockTwits.Report Typo/Error
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