Source : Wit Innovation Technologies Pvt. Ltd 
Monday, October 4, 2010 11:31AM IST (6:01AM GMT)
 
End of Open Ended Stock Recommendations with HiOnStocks.com
An Online Stock Recommendation Marketplace To Buy & Sell Stock Ideas
 
Bangalore, Karnataka, India

Wit Innovation Technologies Pvt. Ltd., a software technology pioneer today announced that it has launched the public beta version of its much talked about online marketplace, HiOnStocks www.HiOnStocks.com). (This is the first-of-its kind platform which will bring transparency to stock market investors. The marketplace will change the landscape of how people take stock tips and recommendations from various sources including business channels. The platform is currently available in India and US and shortly would be made available in more countries.

It's a common occurrence for people to witness analysts recommending various stocks on different business channels and providing them stock tips. However what we as investors fail to realize is that these recommendations are mostly open ended. Analysts fear to provide any timeframe to the recommendations. Hence the general public gets misguided rather than getting informed with the recommendations on when to buy and when to sell a particular stock.

HiOnStocks is the pioneer in this space where information flow on different stocks is unlimited however there is no tracking mechanism. All the recommendations given by analysts on HiOnStocks are time based and tracked. So if an analyst is giving a stock tip or recommendation he will think twice as his rating may get affected if the recommendation does not perform well. However on the other hand the analysts who consistently provide winning ideas and recommendations are given a higher rating and hence they have a larger no. of subscribers.

Speaking on the occasion of launch, Sachin Garg, Co-Founder and Director-Product Innovation at Wit Innovation Technologies said, "All of us want to make money and a lot of us go to stock markets for it but more often than not we end up losing money there. There are thousands of analysts giving stock advices and we take tips from some of them based on intuition and hope for the best. Now here is a platform which solves this problem. It's a marketplace where people can buy and sell stock ideas (Not stocks). The beauty of it is that you can track each and every stock idea. Also there are no monthly commitments and pricing is defined by the analysts. The platform itself doesn't give any stock ideas so you can safely say it's an unbiased platform."

Analysts can create multiple feeds for markets such as BSE, NYSE etc. They can also create a feed based on the recommendation duration. Several payment options available make it even easier. The value proposition of HiOnstocks is not just limited to this. The Analyst reserves the right to select his or her pricing while providing the recommendations. As a Buyer of stock tips, there is in built protection as all the payments made to analysts are held in the Escrow till the time the number of recommendations promised by them are provided. Buyer can cancel a subscription anytime and his full money gets refunded.

Elaborating further, Vibhor Gupta, Co-Founder and COO at Wit Innovation, feeling very optimistic at the launch of the marketplace, commented "It's a new concept altogether. It will take some time for people to understand the value proposition of HiOnStocks. However as it will become popular, it will be a defacto-standard used across just like Facebook and Twitter. The analysts who join in Early will definitely reap the benefit of early movers on the platform. HiOnStocks will be pioneer in its space just as the Ebay is."

With the launch of HiOnStocks, people hooked onto various business channels can now switch off their TV sets to subscribe to recommendations which are time based. The Investment houses who claim to say they have been giving "only" winning ideas to their investors will have a platform to prove that there is indeed truth in what they claim. The world of trading will change for good. It's a win-win for both analysts and the subscribers as analysts get more customers for their research and ideas and subscribers get more transparency in terms of the past performance of the tips.

About HiOnStocks.com

HiOnStocks is a marketplace for Stock Market Investors and Analysts. Stock Analysts can make money by posting/selling recommendations. At the same time Investors can make money by subscribing to such recommendations. HiOnStocks is not into Advisory services and does not advice its clients on any stock tips or recommendations. It only provides a platform to enable the same.
For more information, please visit www.hionstocks.com

About Wit Innovation Technologies, Bangalore

Wit Innovation is a technology company that was founded in 2006. In operations since last 4+ years, Wit has worked in the past with clients from across the Geos including US, Canada, UK, Germany, Austria, Australia and India. Wit Innovation is registered with STPI and is a reputed provider of application development services on the emerging mobile platforms. HionStocks is an online marketplace launched by Wit Innovation.
For more information, please visit www.witinnovation.com

 
For News Release background on Wit Innovation Technologies Pvt. Ltd click here
 
Media Contact Details
Preeti Gupta, Pragma Communication, +91 9901568510, preeti@pragmacommunication.com
 
KEYWORDS: Business/ Finance:Accounting & management, Advertising, PR & marketing, Banking & Financial services, Business Services, Financial Analyst & Investors, Information Technology, Stock Exchanges, Technology;General:Consumer interest, People
 
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Vibhor Gupta & Sachin Garg, Co-Founders, Wit Innovation