Recent events involving Gamestop’s stock have started a national conversation about unfair differences in power between institutional and retail investors.
Candlestick, a new fintech startup, is trying to use AI to close the gap.
Hedge funds and investment banks have been utilizing AI technology to inform their trading strategies for years. Candlestick has created an AI trading model that they plan to make publicly available as a stock picking service.
The company’s AI model learns from years’ worth of past market data to extract patterns and identify the best picks at any given moment.
The result is a trading algorithm with unparalleled performance. On average, Candlestick’s model beats the S&P 500’s returns by a factor of 5 each month. This allowed the AI model to achieve a staggering 300% return during the entirety of 2020.
Candlestick plans to deliver its product through a mobile app that will allow users to receive daily trading signals, personalize their AI model, and track their results. Access to these features will come at the cost of $6.99 per month, a fact Candlestick prides itself on.
“The stock market has been one of the only economic bright spots of the past year. Our main goal with Candlestick is to help bring some of that prosperity to everyday people”, said Anthony DiMaggio, Co-CEO of the company, “That’s why we’re 100 percent committed to delivering the best performance in the industry while maintaining an extremely affordable price.”
The Candlestick mobile app will be launching soon, but in the meantime potential customers have the option to sign up for early access. Early registrants will earn a free stock pick along with guaranteed priority access to Candlestick’s app when it releases. The early access sign up portal along with more information about Candlestick can be found on the company’s website, https://www.candlestick.ai.