The trading and investing platform eToro has joined
forces with Bridgewise, a generative AI company that specializes in stock
analysis. Together, they have introduced a portfolio that is designed to offer
users an opportunity to invest in companies with the potential to outperform
the market.
Dubbed Fundamental-AI,
the portfolio is powered by Bridgewise’s proprietary generative AI technology.
It assesses the 1,000 largest companies on eToro based on a range of future
performance predictors, including quarterly filings, earnings calls, and
analyst research. Each company is assigned a numerical score that reflects its potential
to outperform industry peers.
In an email sent to Finance Magnates, Dani Brinker, the
Head of Investment Portfolios at eToro, said: “Fundamental analysis serves
as the cornerstone of stock valuation and has traditionally been time-consuming
for individual investors. However, AI changes the game as it can quickly handle
vast amounts of data from anywhere in the world, in any language.”
Comprising 40 selected
stocks across various industries and regions, Fundamental-AI has a monthly
rebalancing strategy to ensure its holdings remain aligned with market
conditions. Notably, the assets within the portfolio are offered as Contracts
for Differences (CFDs), encompassing both long and short positions.
Gaby Diamant, the CEO
and Co-Founder at Bridgewise, shared his enthusiasm for the venture, saying: “Analysing data with AI has the potential to offer more diversified
opportunities compared to traditional stock picking. We are excited to put our
proprietary technology to use and give eToro access to machine learning models
to help process enormous amounts of market information.”
Global Expansion and
Valuation Challenges
Headquartered in Israel,
eToro has established itself as one of the top retail brokers, offering a range
of trading instruments, including stocks, cryptocurrencies , and contracts for
differences (CFDs). With a global presence, the company operates under licenses
in multiple jurisdictions, including the US, the United Kingdom, Australia,
Cyprus, and Abu Dhabi.
In July, the Bank of
Spain officially registered
eToro as a virtual
asset exchange and electronic wallet custody service provider. eToro’s
registration in Spain came in the wake of the company’s efforts to bolster its
brand through sports sponsorship by becoming the official sponsor of the
Spanish basketball club, Baskonia.
However, the company
witnessed a sharp decline
in its valuation last
month. According to a report by Finance
Magnates, eToro’s share
traded at USD $60 per share at some point in August, causing the company’s
valuation to plummet by 35 to 40% to USD $1.7 billion. The previous official
valuation for eToro was USD $2.5 billion.
The trading and investing platform eToro has joined
forces with Bridgewise, a generative AI company that specializes in stock
analysis. Together, they have introduced a portfolio that is designed to offer
users an opportunity to invest in companies with the potential to outperform
the market.
Dubbed Fundamental-AI,
the portfolio is powered by Bridgewise’s proprietary generative AI technology.
It assesses the 1,000 largest companies on eToro based on a range of future
performance predictors, including quarterly filings, earnings calls, and
analyst research. Each company is assigned a numerical score that reflects its potential
to outperform industry peers.
In an email sent to Finance Magnates, Dani Brinker, the
Head of Investment Portfolios at eToro, said: “Fundamental analysis serves
as the cornerstone of stock valuation and has traditionally been time-consuming
for individual investors. However, AI changes the game as it can quickly handle
vast amounts of data from anywhere in the world, in any language.”
Comprising 40 selected
stocks across various industries and regions, Fundamental-AI has a monthly
rebalancing strategy to ensure its holdings remain aligned with market
conditions. Notably, the assets within the portfolio are offered as Contracts
for Differences (CFDs), encompassing both long and short positions.
Gaby Diamant, the CEO
and Co-Founder at Bridgewise, shared his enthusiasm for the venture, saying: “Analysing data with AI has the potential to offer more diversified
opportunities compared to traditional stock picking. We are excited to put our
proprietary technology to use and give eToro access to machine learning models
to help process enormous amounts of market information.”
Global Expansion and
Valuation Challenges
Headquartered in Israel,
eToro has established itself as one of the top retail brokers, offering a range
of trading instruments, including stocks, cryptocurrencies , and contracts for
differences (CFDs). With a global presence, the company operates under licenses
in multiple jurisdictions, including the US, the United Kingdom, Australia,
Cyprus, and Abu Dhabi.
In July, the Bank of
Spain officially registered
eToro as a virtual
asset exchange and electronic wallet custody service provider. eToro’s
registration in Spain came in the wake of the company’s efforts to bolster its
brand through sports sponsorship by becoming the official sponsor of the
Spanish basketball club, Baskonia.
However, the company
witnessed a sharp decline
in its valuation last
month. According to a report by Finance
Magnates, eToro’s share
traded at USD $60 per share at some point in August, causing the company’s
valuation to plummet by 35 to 40% to USD $1.7 billion. The previous official
valuation for eToro was USD $2.5 billion.
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- Source: https://www.financemagnates.com//institutional-forex/etoro-teams-up-with-bridgewise-to-offer-ai-driven-stock-portfolio/
