Online financial news vendor TheStreet.com has acquired the remaining 50.1% stake in social networking site Stockpickr.com that it did not already own.
Stockpickr.com offers an online forum where community members can model their own investment practices on trends picked up by other successful portfolio builders.
James Altucher, president of Stockpickr.com, comments: "Whether looking for short-term trading ideas or longer-term investments geared for retirement, investors can find common ground with thousands of other users on the site and use Stockpickr’s tools to generate new ideas."
The Stockpickr site offers more than a dozen idea generating components, including a proprietary recommendation algorithm, diverse model portfolios, specialised lists of individual stocks, and a community of individuals looking to increase their investment savvy.
Thomas Clarke, chairman and CEO of TheStreet.com, comments: "With social networking being the fastest growing part of the Web and from our experience with Stockpickr, the time was right for us to own the entire site."
Terms of the deal were not released.