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, StockTwits.com 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 StockTwits.com. 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 . . .
. . . StockTwits.com 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.