Capital market buffs looking to keep tabs on Israeli stocks have a new app on their side.
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The Buzz Index, launched Wednesday by Excellence Nessuah Investment House, presents a virtual snapshot of Web chatter on Israeli stocks.
The app was developed by Makam in collaboration with the research department at Excellence and is available for both Apple and Android phones.
It zeroes in on the most talked-about stocks by scanning cyberspace – venues like forums, social media, and reader comments on news items – and ranks the stocks accordingly.
The index also shows how each stock stacks up by source. A news item on a stock, for example, will create more incessant buzzing than a reader comment, but both will factor in.
The stocks grabbing the most spotlight Wednesday were for biomed companies like Bioline, which convened a meeting of its investors over the interim results of a drug under development, as well as Pluristem Therapeutics and Brainsway. Shares of Mellanox Technologies were also in the buzz, dropping 1.8% to fall 30% within the last month, as well as Eldan-Tech, which completed its merger with WhiteSmoke.
"The world of technology and Internet is a new and welcome improvement for everyone dealing in forecasts," said Yaniv Hevron, head of the research department at Excellence. "We launched the Buzz Index, which addresses the media popularity of individual companies, to provide a grip on one of the most important but elusive elements of investing which can translate into an efficient and universal concept: Money."