Want to buy stock right from Facebook? Soon you will be able to

Facebook is going to integrate stock buying on companies' pages.

@tracehagan
Published Fri, Apr 20 2012 6:09 PM CDT   |   Updated Tue, Nov 3 2020 12:28 PM CST

Do you currently own stock? If not, is it because of all the fees and difficulties associated with buying and selling it? Well, it appears that shortly after Facebook goes public, you could be able to purchase stock in companies straight from their respective Facebook page without any fees or brokers. The minimum amount would be $10, so it's not like you have to spend a fortune to start.

Want to buy stock right from Facebook? Soon you will be able to | TweakTown.com

All of this is according to former Facebook executive and current director at Loyal3 Chris Kelly. Loyal3 would like to point out that only 18% of American families own stock, a number which they hope to change with this CSOP, or customer stock ownership plan. Direct purchase isn't new, but few companies use it since it isn't cost efficient to oversee millions of tiny share holders.

Loyal3 hopes that by making ownership easy and without fees the average person will be more inclined to purchase stock. CEO Barry Schneider points out that ownership changes a persons point-of-view regarding an item. People usually care more about something they care than something they don't. Think about it, have you ever washed a rental car?

The ability to buy stock is believed to be available as early as June, but there will be a $2500 cap to discourage people from being daily traders. The idea looks good on the face. I mean, I would buy stock in companies if I didn't have to pay fees. But one has to wonder what could happen if everyone of these untrained stock owners decided to dump their stock on the same day...

NEWS SOURCE:techspot.com

Trace is a starving college student studying Computer Science. He has a love of the English language and an addiction for new technology and speculation. When he's not writing, studying, or going to class, he can be found on the soccer pitch, both playing and coaching, or on the mountain snowboarding.

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