Trading.co.uk is a London-based fintech firm that is launching an app that will monitor comments that Donald Trump makes on his social media accounts. The fintech company uses artificial intelligence to sort through the tweets and messages, alerting traders with the latest information.
This fintech app can be a very useful tool for traders because the United States and our president are very influential in the global market. This is especially true for day traders because they are trading millions of dollars every few seconds or minutes. So even the slightest decline or increase in stock prices and currencies can affect a day traders’ gain or loss. According to the article, a single comment from Trump caused a decline in the value of several billion dollars in pharmaceutical stocks several weeks ago. I think that fintech has revolutionized traditional ways of trading with AI and other forms high tech programs. The app benefits traders around the world as they see information in real time. Also, I think the app has a lot of potential for other applications in tracking and analyzing other powerful figures and companies.
Source:
http://www.nytimes.com/reuters/2017/01/19/business/19reuters-global-stocks-trumpometer.html
This is very good article. I agree that the power of social media will have impact on tradings.
From an investor’s point of view, I think this is a remarkable innovation. Especially since President Trump has even more social media outlets now after being officially inaugurated, his words will be more frequent and have more weight. This innovation, if commercially distributed, would make stock trading even more instantaneous than it already is, which is a feat in itself. I wonder if it would make the stock market overly volatile though, as it is tracking and reacting to everything it flags as important.