Stockal Launches A Unique Investment-tech Platform For Millennial Investors

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While robo-advisory firms are the flag bearers in the "save money" arena, Stockal is looking at helping people, potentially, make money by putting more and better intelligence in their hands along with helping them chat with peers and experts and also place trades from within Stockal via their favorite brokers.

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Stockal is a first of its kind combination of data, intelligence, chat and trading, all-in-one tool for retail investors.

With all the excitement around the fintech industry over the last 3-4 years, the space has matured really fast. From being all about payments, and perhaps lending, there are holistic changes imminent on the core banking front and these are already beginning to impact every way we manage our money. For whatever it’s worth, finance has always been a digital front-runner although major disruptions take their time because of the highly regulated nature of the industry in general. Against this backdrop, since releasing in June, Stockal is making interesting progress in helping people make investing decisions faster (and, potentially, better).

Stockal leverages the changing nature of stock intelligence to address the evolving needs of the millennial investor. While zero-brokerage firms and stock idea platforms seem to have successfully created excitement among younger folk that active investing is a good thing, there aren’t many providers of intelligence to help these new investors make confident decisions when it comes to buying and selling stocks - especially selling. Most people still rely on their brokers but all they get is fundamental data, price history and some company news. It is expected that they will, either, run statistical analysis methods to predict future price trends or will bank on their understanding of company fundamentals by reading balance sheets, income statements and such. However, most common investors neither seem to have the time nor the skills to gain meaningful insights in this fashion.

Investing tools and professional news services do offer insights but in the process they end-up overloading the user with data - for instance one gets about 10-15 analyst opinions, many news articles and also some fundamental data. Plus one may end up subscribing to monthly or weekly newsletters. Finally, many investors also follow people on social media platforms to stay in touch with the latest market chatter. All in all - a never ending journey to gathering insights and making sense of the tonnes of info they are forced to deal with.

Stockal is making a genuine attempt to make things easier. The app which is available on iOS (and has just launched an alpha Android version) “brings” just the amount of data an investor needs for understanding whether a stock is worth buying or selling. It also pre-analyzes a lot of data and creates investing signals, or indicators, so the users don’t have to run deep analyses themselves. For instance, Stockal has a proprietary algorithm that takes the opinions and price targets of multiple Wall Street analysts for any stocks and converts that into ONE number called the “Confidence Meter”. Additionally, there are signals like Social Media Pulse which indicates if there are a lot of trader or analyst discussions happening about a particular stock. Of course users can always dig deeper and look at the actual data, read analyst articles, read news, read curated social media conversations etc. Interestingly, when they’ve made a decision, they can just place an order right there, inside Stockal, and the app connects with THEIR brokerage accounts to push the order through. Marquee brokers like Fidelity, E*TRade, TD Ameritrade are available on Stockal. Plus, the app is probably the only one around that also has a Chat functionality built into it in a way that a user can actually place buy/sell orders while chatting (Bloomberg Terminal, anyone?).

With this kind of tech at one’s disposal, it’s tempting to see whether people actually do trade more and are able to make faster and more investment calls than they normally would. But prima facie, looking at the way investment-tech is maturing it’s certainly getting closer to put significant computing and decision-making power in an individual’s hands and it will be wonderful to see how the modern investors use it to manage their financial life better.

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Sitashwa Srivastava
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