Investment platform Public announces that it has signed a definitive agreement to acquire TradeApp investment accounts from Stocktwits.
Stocktwits will continue to focus on its community and real-time discussions about cryptocurrency earnings and offers. Once the acquisition closes, tens of thousands of Stocktwits brokerage customers will migrate to the Public investment platform and join the wider Public community.
“Following the launch of 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 clients,” he said. Stephen Sikes, COO of Public. “Given the commonalities between the two 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 offerings and real-time conversations, especially around earnings events,” said Howard Lindzon, Co-Founder and CEO of Stocktwits. “Members will be able to access a full range of brokerage services on Public and still have access to Stocktwits for vital data and news and the new 24/7/365 crypto era that will be available on Stocktwits.”
As part of the acquisition, which will close in about 30 days, Public will partner with Stocktwits to showcase the community 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 stocks—all in one place.
All members with a Stocktwits brokerage account will have access to the community and social feeds and the Stocktwits business will continue to operate. Customers who do not wish to transfer to Public will have the option to object to the transfer of their accounts during a 30-day window, after which the accounts will be transferred to Public in connection with the closing of the acquisition. Members who transfer their account to Public will be able to access all their funds and investments on the Public platform after reviewing and accepting the terms and conditions.
Stocktwits members who join Public will have access to a wide range of investment products. Assets available on Public include stocks, ETFs, option trades (where members can receive a discount on each option trade), crypto, bonds and alternative assets such as investments in art or music rights.