Tech Start Up Automatically Invests Loose Change

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Mark Melin
Published on
Updated on

A new cell phone technology company wants to take the small change from each purchase a user makes and invests it in the stock market. Tech start up Acorns’ new app offering Newport Beach, CA-based Acorns Corporation offers a new application that monitors daily credit card transactions and pockets spare change into an investment account.  The first application of its kind, it is growing like a weed. The cell phone application, currently in beta and not promoted, has attracted 11,000 investors and $10 million under management in three months, according to the company’s founders Jeff and Walter Cruttenden. Acorn recently received an…

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Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.