On Saturday the the team behind ZimStocks announced on their blog the release of a new version of the application. The latest version for Android devices is already available on Google Play with the iOS version provisionally set for release on the 25th of June 2014.
The ZimStocks app has been going through evolutionary changes with this being the latest introduction meant to enhance its appeal.This latest version has the one added functionality of a Discussion System. This allows users to create discussion on a particular company which other users can participate in.
The user can create a topic of their choice relevant to the company.A Topic is made up of a subject, indicator and content. Indicator is your perception on whether or not you’ll buy, hold or sell shares in the company based on the topic you are discussing.
If a user notices anything interesting about a particular company they can start a discussion on it. According to the ZimStocks blog the idea for a discussion platform was a response to their users who voiced how “trading on your own is not fun.” It seems the discussion feature managed to address that issue using features inspired by social media platforms.
By gives users a 200 character limit to express their opinion with features such as “cashtag” for referencing other companies, adding relevant links, sharing topics with friends, companies trends analysis and “reports” on inappropriate posts this sounds like a ZSE inspired social media cocktail. Perhaps it will be worth considering a later introduction of an image attachment functionality. A picture on what a company is doing would definitely tell more than 200 characters.
I might not be an expert in stock market trading or the law but the very nature of the Discussion feature seems like a potential minefield for legal action stirred up by inaccurate posts and opinions on companies that end up having a dampened share price.
This however seems highly improbable considering that institutional investment activities which really drive share price and investor sentiment are based on a lot more than cashtags and shares. Besides, the ZimStocks team has clearly laid out terms and conditions for using this feature emphasising ethical and appropriate behaviour.
In any case this new improvement to ZimStocks is definitely a step in the right direction. The discussion feature can help create a larger and more engaged community of ordinary investors that wants to know more on the stock market. This aspect fits in perfectly with the vision of this startup.