by CI Staff
Scutify is a social media aggregator app that collates the “scuttlebutt” on stocks, forex and commodities.
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Just as investors turned to message boards a decade ago to gauge sentiment in stocks, today they look to social media. Scutify is a free app for Android and iOS (and a website) that collates tweets, blog postings and news on stocks so you can see what’s being discussed about your favorite stocks. The app is available for download from Google Play and the Apple App Store.
While the app is free, it’s a good idea to create a free account as well. This will unlock what are arguably the best features of the service: custom watch lists (Scuttle List) and the ability to post “scuttles,” your thoughts and opinions on a specific stock.
When you open the app, the home page shows which stocks are trending at that time, based primarily on the number of tweets about the company. There is also a scuttles “newswire” of the latest user posts and a listing of U.S. and international stock indexes with their performance for the latest trading day.
Selecting an individual stock takes you to its own page, where you can see the latest tweets about it as well as separate pages for scuttles related to the company, news headlines and videos. When viewing an individual company you can add it to your Scuttle List and tap a link to a daily candlestick chart. If you tap the pencil icon at the top right of the app when viewing a company, you can write a scuttle about that firm.
If you are a registered user, the My Dashboard section is where you can post your own scuttles on stocks, see the latest tweets for the tickers on your Scuttle List and view the latest scuttles posted by other users.
Lastly, with Scutify you can follow individual users as well as Wall Street “All Stars” who contribute their own scuttles.
Just as with message boards in their heyday, social investing sites and the information found there need to be taken with a good-sized grain of salt. While some users are posting legitimate news and opinions, there are those out there with more nefarious intentions. Investors should take care to use them for supplemental, not primary, news and opinions.