Stock market analysis service TipRanks won first place at the IBM Watson Hackathon in Tel Aviv, Israel. The company’s winning solution was StockRadar, an application that leverages the AI of Watson to provide insights into stock market sentiment.
StockRadar determines which stocks have the most positive or negative sentiment, as expressed in both financial news and social media. For the hackathon, the application surveyed more than 80,000 news articles and 30,000 tweets.
— Kobby don (@KobbyDon1) 16 June 2015
The IBM Hackathon took place on 10/11 June 2015 and was the first Watson Hackathon event hosted in Israel. Applications were developed on IBM’s Bluemix platform, and the winning team was awarded a trip to visit the IBM Watson Labs in New York City.
TipRanks called the day-and-a-half hackathon “challenging and fun.” The company was especially glad to “have a working PoC (proof of concept) that (we) can integrate into our existing service. Very exciting.”
Going forward, TipRanks will be integrating the capabilities developed through the StockRadar hack into the TipRanks dashboard. The company also plans to do some quantitative research to see just how positive and negative sentiment extremes can affect intermediate-term price-movement.
Founded in June 2012 and headquartered in Tel Aviv, Israel, TipRanks demonstrated its technology at FinovateFall 2013 in New York and FinovateSpring 2013 in San Francisco, winning Best of Show honors on both occasions.