HotCopper

Last updated
HotCopper.com.au
Company type Internet forum
Industry Financial services
Founded1994
Headquarters
Australia
Parent The Market Herald
Website hotcopper.com.au

HotCopper is an Australian stock market online chat forum that allows its users to discuss financial topics. As of 2015, HotCopper was in the top 170 websites in Australia and was the 5th most popular financial services site in Australia, according to Alexa rankings. [1] [2] [3] In June 2022, the site ranked third in it category, as the 193rd most popular site in Australia, with six million annual visits. [4]

Contents

It is the oldest [5] and the largest independent, fee-free trading forum for ASX stock market investors, [4] having started as a bulletin board in 1994 and then moving to the web in 1995. [5] A subsidiary of The Market Herald, it is operated by Report Card Pty Ltd. [6]

HotCopper obtained an Australian Financial Services Licence (AFSL) in March 2010. [7] [8]

HotCopper is often quoted by other information services, in books and in numerous market related economic and social studies. [9] [10] [11] For example, in trading books such as Investors Web Guide. [12]

History

HotCopper started by Ron Gully as a bulletin board in 1994 and then went to the web in 1995. The first recorded listing in The Web Archive is 1998. [13]

HotCopper is named after "hot" 1c and 2c shares which derive their name from the 1c and 2c coins in Australia which were made of copper (no longer in circulation) i.e. "Hot" "Copper". The original HotCopper Logo was an image of a 1c and 2c coin.

The website first came to prominence in 1997 when an oil discovery in Manila was reported in a post on HotCopper generating 45,000 hits. [14] The post on HotCopper caused the stock to run. The company reported to the ASX, after a price query, that the price movement was due to the HotCopper post.

By December 1999, all posts were vetted by a moderator who was a trained investment adviser to ensure the site did not give investment advice. HotCopper was listed on the Australian Securities Exchange in December 1999 [15] by Tony Cunningham of stockbroker D J Carmichael, who bought stake in the company from founder Ron Gully. [16] [17] In January 2000, HotCopper became a division of Bourse Data after it was acquired by the company for $11 million. [15] The acquisition made HotCopper a division of Bourse Data. In 2001, Bourse Data merged with St.George Bank, which reprivatized and sold HotCopper to private interests. [18] [19] The Financial Arena then sold HotCopper to Perth-based company Report Card Pty Ltd through a deal brokered by Cunningham in 2004. [16] [20]

By September 2012, the company had 170,000 members and received 6,000 posts a day. [21] HotCopper reported having 170,000 active users by 2016. [3] At that time, the managing director was Greg D'Arcy and Steven James, Tony Cunningham of CPS Capital, and Alec Pismiris of Capital Investment Partners serving as directors. [16] [17]

In 2016, the company was listed on the ASX as HotCopper Holdings, which acquired all shares in its owner, then Report Card Pty Ltd. [5]

In June 2020, HotCopper's parent company changed its name to The Market Herald. [5] In November 2023, the company announced it would rebrand to The Market Limited. [22]

Related Research Articles

<span class="mw-page-title-main">Australian Securities Exchange</span> Australian share market operator

Australian Securities Exchange Ltd (ASX) is an Australian public company that operates Australia's primary securities exchange, the Australian Securities Exchange. The ASX was formed on 1 April 1987, through incorporation under legislation of the Australian Parliament as an amalgamation of the six state securities exchanges, and merged with the Sydney Futures Exchange in 2006.

<span class="mw-page-title-main">Foster's Group</span> Australian beer producer

Foster's Group Pty. Ltd. was an Australian beer group with interests in brewing and soft drinks, known for Foster's Lager, now called Carlton & United Breweries since the company was renamed in 2011. Foster's was founded in 1888 in Melbourne, Victoria by two American brothers, who sold the brewery a year later.

<span class="mw-page-title-main">Singapore Exchange</span> Investment holding company in Singapore

Singapore Exchange Limited is a Singapore-based exchange conglomerate, operating equity, fixed income, currency and commodity markets. It provides a range of listing, trading, clearing, settlement, depository and data services. SGX Group is also a member of the World Federation of Exchanges and the Asian and Oceanian Stock Exchanges Federation. it is ASEAN's second largest market capitalization after Indonesia Stock Exchange at US$585.97 billion as of September 2023.

<span class="mw-page-title-main">Downer Group</span> Integrated services company active in Australia and New Zealand

Downer Group is an integrated services company active in Australia and New Zealand.

Babcock & Brown LP was a global investment and advisory firm, established in 1977, based in Sydney, Australia, that went into liquidation in 2009.

<span class="mw-page-title-main">Airport Link, Brisbane</span> Motorway in Brisbane, Australia

The Airport Link is a tunnelled, motorway grade, toll road in the northern suburbs of Brisbane, Queensland, Australia. It connects the Brisbane central business district and the Clem Jones Tunnel to the East–West Arterial Road which leads to the Brisbane Airport. It was built in conjunction with the Windsor to Kedron section of the Northern Busway in approximately the same corridor.

A listed investment company (LIC) is an Australian closed-end collective investment scheme similar to investment trusts in the UK and closed-end funds in the United States. Instead of regularly issuing new shares or canceling shares as investors join and leave the fund, investors buy and sell to each other on the ASX. They are traded like other securities on the Australian stock exchange.

<span class="mw-page-title-main">Ampol</span> Australian multinational petroleum retail company

Ampol Limited is an Australian petroleum company headquartered in Sydney, New South Wales. Ampol is the largest transport energy distributor and retailer in Australia, with more than 1,900 Ampol-branded stations across the country as of October 2022. Ampol also operates in New Zealand through its subsidiary Z Energy.

REA Group Ltd and its subsidiary companies, known as the REA Group, make up a global online real estate advertising company. REA Group is headquartered in Melbourne, Australia, with subsidiary offices in Wanchai, Hong Kong and Gurugram, India.

The S&P/ASX 300, or simply, ASX 300, is a stock market index of Australian stocks listed on the Australian Securities Exchange (ASX). The index is market-capitalisation weighted, meaning each company included is in proportion to the indexes total market value, and float-adjusted, meaning the index only considers shares available to public investors.

<span class="mw-page-title-main">BBY Limited</span> Former Australian stockbroker company

BBY Ltd was an Australian stock broking, corporate advisory and asset management firm. Prior to its voluntary administration on 18 May 2015, it claimed to be the largest independent stockbroker in Australia and New Zealand by market share. The group provided financial and advisory services to emerging companies and their investors including corporate finance, research, sales & trading, asset management and broker dealer services.

Brickworks is Australia's largest brick manufacturer, consisting of four divisions – Building Products Australia, Building Products North America, Industrial Property, and Investments.

Patrick Y-Kin Grove is a Singaporean and Australian tech entrepreneur of mixed heritage.

Redbubble is a global online marketplace for print-on-demand products based on user-submitted artwork. The company was founded in 2006 in Melbourne, Australia, and also maintains offices in San Francisco and Berlin.

<span class="mw-page-title-main">Plus500</span> British international financial firm

Plus500 is a global fintech firm providing online trading services in contracts for difference (CFDs), share dealing, futures trading and options on futures. The company has subsidiaries in the UK, Cyprus, Australia, Israel, Seychelles, Singapore, Bulgaria, Estonia, the United States and Japan. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

Wisr is an Australian non-bank lender offering consumer lending services. It was known for being the first company of its type to be publicly listed in Australia. In March 2018, DirectMoney launched a major company rebrand to Wisr.

Quadrant Private Equity is an Australian private equity investment firm based in Sydney, Australia. The company was founded as Quadrant Capital in 1996 by Chris Hadley. By 2022, the Managing Partner was Jonathan Pearce.

<span class="mw-page-title-main">Zip Co</span> Australian financial technology company

Zip Co Limited is a global 'buy now pay later' financial technology company with operations in Australia, New Zealand and the USA. According to their FY22 financial scorecard, across the group they had 12 million total customer accounts, a transaction volume of A$8.7 billion, revenue of A$620 million, and cash gross profit of A$203.7 million. As of 21 December 2022, the market capitalization of Zip was A$431 million.

Walkabout Resources is an Australian-based minerals developer with projects in Tanzania, Northern Ireland, Scotland and Namibia.

<span class="mw-page-title-main">Stake (platform)</span> Financial services company (e. 2017)

Stake is an Australian financial services company headquartered in Sydney, Australia. It was founded in 2017 by Matt Leibowitz, Dan Silver and Jon Abitz. Stake predominately offers low-cost brokerage services to retail investors in Australia, New Zealand, Brazil and the United Kingdom.

References

  1. "hotcopper.com.au Site Overview". Archived from the original on 2016-04-11. Retrieved 2016-01-16.
  2. "Alexa - Top Sites by Category: Regional/Oceania/Australia/Business and Economy/Financial Services". Archived from the original on 2016-04-11. Retrieved 2016-01-16.
  3. 1 2 West, Michael (8 September 2012). "It's a 'dog eat blog' world out there". The Sydney Morning Herald . Retrieved 21 April 2016.
  4. 1 2 "hotcopper.com.au". similarweb.com. SimilarWeb. Retrieved 24 August 2022.
  5. 1 2 3 4 McGinn, Jack (9 November 2023). "The Market Herald to be Renamed". businessnews.com.au. Business News. Retrieved 9 November 2023.
  6. Richardson, Tom (2022-07-27). "Magnis seeks court order to reveal HotCopper users' identities". afr.com. Retrieved 24 August 2022.
  7. "HotCopper draws four IPOs on commission lure for investors, says Greg D'Arcy". News.com. March 1, 2010. Retrieved May 4, 2016.
  8. Michael Bennet (May 6, 2010). "CMC Markets ties with online stocks forum HotCopper". The Australian. Retrieved May 4, 2016.
  9. The Impact of Manipulation in Internet Stock Message Boards by Jean-Yves Delort, Bavani Arunasalam, Maria Milosavljevic, Henry Leung :: SSRN
  10. http://www.aclweb.org/old_anthology/U/U09/U09-1.pdf#page=96 [ bare URL PDF ]
  11. http://www.ijiet.org/papers/204-K20020.pdf [ bare URL PDF ]
  12. Douglas Gerlach (January 1, 1997). Investor's Web Guide. Lycos Press. ISBN   9780789711878.
  13. "HotCopper | ASX Share Prices, Stock Market & Share Trading Forum". Archived from the original on 2019-12-20. Retrieved 2020-01-17.
  14. "SOME ISSUES FOR CORPORATIONS AND SECURITIES MARKETS".
  15. 1 2 "News Store".
  16. 1 2 3 Nick Evans (April 1, 2014). "HotCopper hops offshore". The West Australian.
  17. 1 2 Sarah Thompson; Anthony Macdonald; Joyce Moullakis (9 March 2016). "HotCopper prospectus slated for April". Financial Review. Retrieved May 4, 2016.
  18. "Gone full circle". 20 August 2002.
  19. Sarah Thompson; Anthony Macdonald; Joyce Moullakis (January 18, 2016). "HotCopper forum has ASX-listing plans of its own". Financial Review. Retrieved May 4, 2016.
  20. "Correction to the article entitled "Hot copper: how day traders fueled a $1bn frenzy".(Correction notice)". Archived from the original on 2016-09-10.
  21. "It's a 'dog eat blog' world out there". The Sydney Morning Herald. 7 September 2012.
  22. McGinn, Jack (9 November 2023). "The Market Herald to be renamed". Business News.

Further reading