Fidelity Investments has introduced a new iPhone app called Stocks Nearby. This app was created by Fidelity Labs, the company’s center for innovation. The Stocks Nearby feature allows investors to find public companies as their view their present location. It doesn’t stop there though, with the app you can pull up a quote and conduct additional research in the Fidelity Mobile app.
This app allows investors to investigate companies around them. Many Wall Street moguls (Peter Lynch most famously) have used the term “buy what you know,” and the Stocks Nearby app allows you to do just that. If you are at a local store that seems to be doing some good business, opening up the Stocks Nearby app will allow you to see if that company is public and conduct further research on the stock.
Investors can also trade using this new app. Directly from the app, investors can trade stocks, mutual funds, ETFs, and even options. Please note that this app and all of Fidelity’s apps now support single and multi-leg option trades and trading of specific shares.
Want an idea of what the Stocks Nearby app looks like? Below is a screenshot of the new app.