Stocksnips Leverages AI, Machine Learning To Deliver Actionable Trading Insights

Benzinga is highlighting nominees for the fifth annual Benzinga Global Fintech Awards ahead of the event Nov. 19 in New York City.

One nominee is Stocksnips, an AI stock market analysis solution.

Background

Stocksnip aggregates and analyzes news data from over 50,000 articles a day to deliver actionable trading insights for public companies listed on Nasdaq and NYSE.

The firm’s vision is to provide access to stock market news analysis, helping investors generate alpha on financial and operations-related insights.

Recent Developments

The three-year-old startup leverages new tech, machine learning and AI algorithms to analyze news articles and produce clear market sentiment evaluations.

Everything from SEC filings and newswire releases to detailed analyses by Forbes are collected and evaluated for users.

"Think of it as a tsunami warning. It’s a level two, level three," founder Ravi Koka said in a press release.

“The same thing with the stock market. You can inform your audience that something is going on.”

In November of last year, Stocksnips announced a partnership with the Associated Press.

Going Forward

Stocksnips has six paying customers — financial media outlets, asset management companies and investment funds — all of which leverage news, ESG (environment, social and governance) and company factor analysis in reducing risk and increasing returns.

The firm raised in excess of $40,000 in revenue last year, with this year’s revenue expected to hit $180,000.

“It’s an exciting new space with the use of artificial intelligence and machine learning in the stock market,” Koka said. 

“It’s going to be a big disruptor in the marketplace, and I think we’re riding that wave, and we’re hoping to be the best of breed in that space.” 

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