Twitter introduces cashtags stock symbol but is accused of stealing the idea from StockTwits

Twitter has now implemented a new ticker symbol that enables tweeters to search for tweets about specific stock markets and companies. 

By adding the hashtag or “cashtag” to the front of a search word, users will be provided with a list of tweets referencing the financial ups and downs of a company. 

However, before you get started it’s worth noting that the Twitter community is already using multiple search words, with both $Apple and $AAPL referring to the Cupertino giant.

One of the reasons for these multiple “cashtags” is that Twitter’s new feature was already functioning under another guise. StockTwits enabled users to search for stocks and discover trending streams on the financial sector through Twitter by using the “$” symbol at the start of the search word. 

CEO and co-founder of StockTwits, Howard Lindzon, has accused Twitter of “hijacking” StockTwits’ idea having already been told by Twitter that it wasn't interested in providing the service, its clickable cashtags feature now clearly does.

Lindzon has written a blog post on the StockTwits page suggesting that while he is disappointed by Twitter’s change of position, StockTwits has taken it as the “ultimate compliment”, albeit “in a dirty way”. 

Whether that proves the end of it probably comes down to how popular Twitter’s new “cashtag” facility proves.

Will you be using Twitter's "cashtag" facility? Let us know in the comments below...



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