Public strikes deal to acquire Stocktwits’ brokerage accounts
“After launching bonds, a high-yield cash account, and options trading, Public’s platform has earned the right to be the primary brokerage platform for many investors, and we look forward to offering the full breadth of our platform to Stocktwits customers.”
Public has signed a definitive agreement to acquire the TradeApp investment accounts from Stocktwits, which will continue focusing on its community and real-time discussions around earnings and cryptocurrency offerings.
Upon the completion of the acquisition, tens of thousands of Stocktwits brokerage customers will migrate to the Public investing platform and join the larger Public community.
The acquisition deal follows Public’s revised expansion strategy after launching a UK operation only to shut it down eight months later.
Public launched bonds, high-yield, and options trading
Public is a leading investing platform where members can invest in stocks, options, bonds, crypto, and alternative assets.
Stephen Sikes, COO of Public, said: “After launching bonds, a high-yield cash account, and options trading, Public’s platform has earned the right to be the primary brokerage platform for many investors, and we look forward to offering the full breadth of our platform to Stocktwits customers. Given the commonalities between both platforms, we are excited to welcome Stocktwits investors and traders to our platform.”
Howard Lindzon, Co-Founder and CEO of Stocktwits, commented: “We’re doubling down on our strengths, our core social and community offering, and real-time discussions, especially around earnings events. Members will be able to access a full breadth of brokerage services on Public and still access Stocktwits for vital data and news and the new 24/7/365 era of crypto that will be available on Stocktwits.”
Stocktwits brokerage clients will migrate to Public
All members with a brokerage account on Stocktwits will have access to the community and social feed, and the Stocktwits business will continue to operate.
Customers who do not want to transfer to Public will have the option to object to transferring their accounts during a 30-day window, after which accounts will transfer to Public in connection with the closing of the acquisition. Members transferring their account to Public will be able to access all their funds and investments in the Public platform after they review and accept terms and conditions.
Stocktwits members joining Public will have access to a wide range of investing products. Assets available on Public include stocks, ETFs, options trading (where members can get a rebate on every option trade), crypto, bonds, and alternative assets like investing in art or music royalties.
Stocktwits has built an active community of over 8 million users and established itself as one of the leading voices of investing. Powered by our mission to help investors improve returns, Stocktwits aims to provide investors with the community, data, content, and tools necessary to connect, learn, profit, and have fun.
