Plum expands investment offer to 3,000 shares

Smart money app Plum has expanded its investment offering to 3,000 US stocks. This means that it now provides one of the widest stock ranges of any investment platform without commission.

New promotions for 2023

The addition of 2,000 new shares gives customers the ability to buy stakes in companies such as Sony Group, Airbnb, Duolingo and Credit Suisse for as little as £1. Customers in the UK and EU will have access to new promotions.*

Elisa Nunn, Plum Product Manager for Trade and Automation, comments: “The addition of new shares comes at an important time as people look to improve their money management in the coming year. Having a wide range of investment options available has always been critical to Plum’s offering, which is why we are delighted to now offer this expanded and highly competitive portfolio of companies to invest in.”

Plum launched stock investing on its app last year following the success of its automated passive investment feature for funds. 2023 looks set to be an important year for the development of Plum’s investment offering as the company intends to add watchlists and share price alerts in the coming months. Later this year, Plum also plans to add news features to its investment products and offer ETFs to clients in the EU.

Eliza Nunn adds: “The goal is to make a balanced and diversified portfolio accessible to everyone, backed up by useful educational tools. By offering such a wide range of stocks along with funds, we make it easier for people to invest in companies that matter to them and let their money grow with a balanced approach over the long term.”

Technology stocks were the most popular in 2022

Since launching equity investing, Plum’s clients have continued to support large tech companies: 6 of the top 10 stocks were tech giants, and Tech Giants was also the most popular among passive investors**.

Household names also proved to be popular choices, with Etsy, Disney, and McDonalds proving to be strong choices. Female investors especially liked Etsy, an online marketplace for handicrafts, for which it was the 4th most popular stock. Meanwhile, Meta and Nvidia proved to be the most popular among male investors.

Etsy, Disney and BP are more visible to older investors (35 and over), while younger investors under 25 such as McDonalds and Ford. Big tech companies like Meta and Google were less popular outside of London, while Ford and Disney were more popular in the capital.

Eliza Nunn comments: “Our client base tends to be younger and more diverse than the typical investor, so it’s no wonder they chose tech stocks in their first foray into investing in Plum stock. They want to invest in what they know and what matters to them, and as digital natives, technology is the obvious choice. With our expanded range, it will be interesting to see if there are any major changes to our most popular promotions.”

Post Plum is expanding its investment offering to 3,000 shares, first listed on Fintech Finance.

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