Stockopedia, Social Networking & the Stock Market

It’s no secret that people all over the world are being negatively affected by the economic downturn.  With all of the job loss and worries, more people are looking for new and innovative ways to help their businesses stay afloat- not to mention keep money in their bank accounts.

According to a recent press release, Stockopedia, a London based startup, has announced the launch of the first social network for private investors in the UK stock market.  The goal is to use social media to help investors make better, more well-informed investment decisions.

Not a bad idea.

Similar to other social sites like Wikipedia, Stockopedia takes advantage of tagging, wikis and forums to help foster discussion and communication among people. Stockopedia monitors users investment interests, thereby recommending pertinent companies to users where applicable, much like Amazon.com recommends books and music to you based on what you’ve been searching.  This really seems to be a novel idea.  The article goes on to quote Edward Croft as stating:

The site allows users to easily follow themes and investment trends.  By using tagging to categorise the market, we are challenging the traditional top down hierarchy of sector categorisation.  We aim to introduce our users to more laterally related companies which they would otherwise miss.

The news of Stockopedia’s ideas and plans is exciting in a time where there is so much economic uncertainty and job loss.  Many professionals are turning towards social media with the hopes that it will level the playing field, not to mention soften the blow that’s being doled out by the current financial crisis.

For more information about Internet marketing, visit Create Business Growth today!

[photo credit: katrinakatrina on Flickr]