Has all this of GameStop and Robinhood news gotten you interested in the stock market all of a sudden? Look no further than local stock trading automator AlgoPear, which just won $25,000 in a startup pitch competition.
Last Saturday, Dallas-based startup incubator Impact Ventures held a Virtual Startup Showcase and $50,000 Pitch Competition, and Ronnie Green, founder of AlgoPear, walked away with the top prize.
AlgoPear, which is located at 13101 Preston Rd., Ste. 110-1072, has a mission to “break the exclusivity in finance and grow people’s wealth.” The startup is a marketplace that totally automates stock trading by pairing retail traders up with an algorithm that matches your personal goals and risk level. According to AlgoPear’s site, algorithm bots like the ones they use make 80% of overall trades globally, are used by 90% of top financial firms, have better odds at making the right choices through proven design and testing and keep you from constantly monitoring markets yourself.
“We automate short term trading for the 95% of traders that fail because they don’t have the time, discipline, and automation resources like hedge funds to succeed,” reads a description of AlgoPear from the pitch competition. “We maximize profits, minimize risk, and democratize wealth.”
Impact Ventures focuses on promoting women and entrepreneurs of color with the goal of “leveraging the genius of all people, regardless of ethnicity, gender, or class” to help build “an economy where access, opportunity, and prosperity” is more equitable. The virtual pitch competition last weekend, sponsored by Bank of America, featured 13 women, Black and Latino-led tech startups and small businesses from across North Texas and other parts of the U.S.