MarketReader tracks the drivers of price action, dynamically, as they happen.
This weekend provided a great example of the system in action, as news of First Republic Bank ($FRC) being put into FDIC receivership began to spread during the trading session on Friday, April 28.
MarketReader has been tracking the news driving First Republic ($FRC) during the session today— MarketReader (@marketreaderinc) April 28, 2023
CNBC's reporting of 'receivership' triggered the big move down, and additional reporting by other news outlets generated the further cascade down. pic.twitter.com/9XTHqrWqfO
Continuing through the weekend, MarketReader identified the unusual activity around FRC and tied it back to the latest news headlines, social media chatter, and correlated asset moves relevant for investors.
Our smart screener is set up to detect unusual moves both in the after-hours and in normal trading.— MarketReader (@marketreaderinc) April 30, 2023
On Friday, First Republic ($FRC) had a huge move in the after hours (-42%), marked with EXT. But the rest of the banking sector hardly moved (no EXT marking shown) pic.twitter.com/ntF984LTpJ
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Viewing the timeline of FRC from Friday through Monday, MarketReader provides an AI-generated summary of activity, in this case highlighting that First Republic Bank has now had most of its assets acquired by JPMorgan Chase:
And viewing the financials sector in MarketReader’s smart screener on the morning of May 1, users could see AI-generated summaries explaining unusual moves in JPM, FRC, and PNC:
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