In a tough market, I get by with a little help from my friends…
The turbulence and wild swings of the world’s financial markets have been enough to make even the sturdiest of investors a little queasy as of late. If you haven’t already, you will likely lose most of your appetite for risk as the global recession runs its course. But it’s important to keep your head in the game. Several years from now, we’ll no doubt look back at some of these prices and be wishing we’d backed up the truck.
Everyone is looking for an edge in their investment strategy. We think we may have one for you. Hot Stocks is a social finance app from Yahoo’s Media Innovation Group that lets you stay engaged and explore trading ideas with a little help from your friends and other investors on Yahoo!, Facebook and MySpace. Anyone can play regardless of their investing background or financial expertise.
Hot Stocks keeps you up to date with your favorite stocks and lets you watch the latest business videos from Yahoo! News. But the main premise of the app is to share your opinions about different companies using the stock rating widget. The widget appears throughout the app and will continually ask your opinion about various S&P 500 stocks. Drag the slider to express your bullish or bearish sentiment. Click on the stock ticker symbol to see how others feel about it.
Get your friends involved!
Things get interesting when you invite a couple friends to join in the fun. You can compare their favorite stocks with your own and see how each of your top five picks has performed not only today, but also over the past week, month, quarter or year. Use it to help identify your most financially informed friend! Perhaps it’s you?
The wisdom of the crowd
If you’re looking for investment ideas, check out the collective financial wisdom of the different social network crowds. Under the community tab, you’ll see which stocks people are most bullish or bearish on recently on Yahoo!, Facebook and MySpace or across all networks.
• Enter a ticker symbol into the box on the top right of the app and click the Go button to be taken to its stock sentiment page, where you can leave your rating or comment.
• Your Top Five stocks will be automatically created based upon your highest rated stocks. If you’d like to manually edit your Top Five, click on the My Stocks tab and drag any stock that you’ve rated over your Top Five to add it to the list.
• Clicking on a company name or ticker symbol on the Home page will take you to its stock sentiment page where you can leave your sentiment or see how other users feel about it.
• The stock rating widget displays some valuable information about the current stock, including its sector and industry and how heavy or light the stock is trading today.
• Click on the different stock performance periods just below the tabs to change the default period that is used to calculate the percentage change for all stocks.
We hope you’ll find Hot Stocks a fun and engaging way to follow the market and interact with friends online. Please let us know what you think!
Yahoo! Media Innovation
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