Investing platform Public announces that it has signed a definitive agreement to acquire the TradeApp investment accounts from Stocktwits.
Stocktwits will continue focusing on its community and real-time discussions around earnings and cryptocurrency offerings. Once the acquisition closes, tens of thousands of Stocktwits brokerage customers will migrate to the Public investing platform and join the larger Public community.
“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,” said Stephen Sikes, COO of Public. “Given the commonalities between both platforms, we are excited to welcome Stocktwits investors and traders to our platform.”
“We’re doubling down on our strengths, our core social and community offering, and real-time discussions, especially around earnings events,” said Howard Lindzon, Co-Founder and CEO of Stocktwits. “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.”
As part of the acquisition, which will close in approximately 30 days, Public will partner with Stocktwits on community outreach and Howard Lindzon’s brand new show, “Trends with Friends.” This partnership will show how members interested in the stock market can take advantage of high-yield accounts or invest in equities—all in one place.
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.
