If you're a Facebook user, this summer you'll be able to do more than just Like a company on the social network. Oh, and you can also forget about dealing with brokers and fees. That's right: Facebook could soon become a destination for people to invest in the stock market.
At least, that's what the San Francisco-based Loyal3 is planning. Here's how the company describes its idea:
You can also buy stock directly from your favorite companies, right on Facebook. We made it so easy all it takes is 3 clicks. You never even need to leave Facebook. And after you've bought stock directly from the companies you know and love, let your friends know you're an owner, and paid no fees!
Notice that the verbiage suggests that this is already available. On the company's website homepage though, it clearly says "Launching Q2 2012."
Business Insider says Loyal3 today announced the Facebook app at Ad Age's Digital Conference. By June of this year, public companies will be able to sell their stock to customers directly from their Facebook Pages in as little as $10 increments, with no transaction fees (Loyal3 promises it will cover that portion of your bill).
After you've become an owner of stock in a company, you'll of course be able to let your Facebook friends know directly via the service. Loyal3 says it wants to make it easier for average Americans to own their favorite companies, and it thinks the world's largest social network is the way to do that.
Facebook is already ubiquitous for many things. Loyal3 believes it can make Facebook a stock market destination as well. On the one hand, this will help democratize the stock market, while on the other hand it could also be dangerous if the finance sector is suddenly flooded with amateurs.