What would happen if you put 3,000 monkeys at 3,000 trading desks and gave them $100 each to trade with?Basically a wash if today’s Stockstream Twitch experiment is anything to go by.
While Equity.Guru has been using the video game-streaming service to livestream CEO interviews and talk about trading for several weeks now, the owner of Stockstream laid down $50,000 of his own money and opened his own Twitch channel to crowdsource investing in a new way.
Essentially, it invites the viewers to post their trades, either with a !BUY [ticker] or a !SELL [ticker].
Users who correctly guess the direction of the stock in the preceding five minutes earn points in a giant multiplayer stock picking game.
We had nothing scheduled for our show today, so we’re hosting the stream:
If the experiment has shown anything so far, it’s that the crowd cancels itself out, with most trades either being to buy or sell TSLA. the account has earned $76 profit from it’s $50,000 outlay at the time of writing.
We suggested it buy DRYS, so we’re down 400 points, natch.
Twitch, which is owned by Amazon (AMZN: NASDAQ), boasts over 8 million active daily users, who watch, on average, twice the daily video content of Youtube users.
To see the latest Equity.Guru livestream interview, enjoy this piece with Wildflower CEO William MacLean.