Fidelity Investments has added a location-based feature to its iPhone app that tells users about nearby publicly traded companies.
The latest gimmick from the Fidelity Labs team, "Stocks Nearby" lets investors see companies as they view their present location, then pull up a quote and conduct additional research directly in the firm's app.
"As the investing maxim goes, buy what you know," says Velia Carboni, SVP, mobile channel, Fidelity. "The Fidelity Stocks Nearby tool enables investors to immediately research businesses that show promise - on the go. Imagine an investor coming upon a store that is packed with customers - with Stocks Nearby they can easily begin to answer the question if it's a good investing opportunity."
Fidelity Labs has a history of experimenting with new technology to provide different ways for people to access and visualise their portfolios. It recently unveiled an app for the Oculus Rift virtual reality headset that lets investors visualise their portfolio as a 3D city and has also developed a Google Glass tool.