Catching up with Todd Stottlemyre

Two of the more annoying things to come down the pike in the past decade — day traders and Twitter — are now working together, backed in part by a former Major Leaguer:

Launched in October, has 30,000 registered users, following stock commentary from 1,000 people who “tweet” every day for the site. They tag their Twitter posts, about any public company, so the posts appear on The site is open to anyone and is populated by professionals and novices alike. So to help users cull through and find the best information, the company has a recommended list of about 50 tweeters with proven records and consistent contributions to the site . . .

. . . is still small, but it’s backed by an impressive range of media and business names. In December IA Capital Partners led a nearly $1 million round of investment in the newcomer. The list of backers includes former Major League Baseball pitcher Todd Stottlemyre, now a day trader and contributor to the site . . .

I got a buddy who can’t raise low five figures to get his landscaping business off the ground, yet Stottlemyre is out there throwing a million at something called StockTwits. Oh the humanity.

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  1. blaze said...

    I don’t Twitter, nor do I Facebook. And because I have two – count ‘em, TWO – teenagers, I am permitted to use those as verbs. You already know 25 random things about me, and if either of us has time to Twitter, God help the great state. Your buddy should call the SBA. Doin’ good things these days. Non sequiter? So’s landscaping.

  2. Matt S. said...

    If Mel’s finacial sense is a good a his coaching this thing will bankrupt in a few months. As a Sox fan, I almost cried the day they fired him.

  3. Evan said...

    For a long time, I wondered, “What is this twitter thing about?” Now, it’s another of, say, 100 sites I visit. Frankly, I don’t know how to feel about that.

  4. Mike said...

    As a fan of both Twitter and StockTwits (though I know one of the founders…), I have to step up to defend StockTwits.  It’s a bit unfair to condemn it… Twitter, when used properly, becomes an amazingly useful information and communications tool.

    Like many people, I thought it was silly until I really started using and realized how incredibly valuable it is.  It has kept me in better touch with people, as well as providing info that is incredibly helpful to me in a variety of ways.

      It’s a stream of useful info, and in many ways a very personalized people-powered Bloomberg terminal.  As such it makes sense for traders (I don’t trade, yet I still find StockTwits interesting) to use it as a way to share information.

    It’s really about getting around the established legacy sources of information and getting people to actively share information with each other.

    It’s a good thing, not something to mock.

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