Similar Stocks

Ideas đź’ˇ
1

It could be nice to have a list of similar companies when you click on a company.

Example:

I am browsing through stock list and I click on Facebook and at the bottom of the page there are a list of other similar stocks, such as Twitter, Pinterest etc.

If anyone has Apple Music, I’m thinking of the exact same feature when you click on an artist then at the bottom it has similar artists. See the picture below of the feature in Apple Music.

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2

Leaving a comment to track, seems like a good idea maybe also have something like the amazon “people who viewed this also viewed”

And it would be nice to have “similar” aspect customisable I.e similar industry or similar p/e or similar dividend yield etc etc

3

I don’t use the freetrade app for discovery, because it’s not that good. But here’s some easy wins for Collections:

  • Make Collections available to All - Plus accounts see collections such as “Cloud Computing” which are a list of tradeable firms operating in that market. No one is going to stop paying for plus if they are available to all. In fact, making collections available to all may encourage non-plus users to sign up to plus to buy into companies they discover.
  • Show Collections on the Individual Stock Screen - From the Cloud Computing Collection, I can navigate to Alibaba. However, there is nothing in the Alibaba screen which says it belongs in the Cloud Computing collection, and there is nothing to click on to navigate back to the Collection. Maybe Alibaba is in multiple collections, I do not know. I can only navigate to the overly broad “tech” category of stocks.
4

I feel like similar is hard to define in this context. Some artists have a style/theme to their music. In the world of stocks, companies don’t really have the same “vibe”. Nonstandard Finance isn’t really similar to Amigo Loans. Sure, they both operate in the subprime/alternative credit market, but they target different types of customers and their offering differs. Going further and customising this would, I think, take up a lot of engineering time. Time that could have a much more meaningful impact in other features.

Truthfully, I feel like this is unnecessary. It’s a complex, hard to precisely define term that may not end up making everyone happy if implemented. Freetrade already has this basic functionality anyway. Go to a given stock in the app and you can see in which sector a company operates. You can tap this and see other companies in that same sector. Sure, it’s pretty general. It is however already there and I think enough to inspire people via somewhat related companies.

5

Rather than trying to come up with a recommendation engine based on the type of company, a simpler idea might be “People who bought this, also bought X Y Z” ?

I’m not sure if it would have that much value though - it might just lead to herd activity and everyone buying the same stuff?

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