Fear, Greed, and Wikipedia: Last Week's Data

Last week the Fed signaled delayed rate cuts, Congress passed a new $95 billion dollar foreign aid package, and investors in the House and Senate filed trades of Bitcoin, VZ, TXN, and more.

Here’s a rundown of what we’ve seen in the data recently:

LAST WEEK’S CONGRESSIONAL TRADES 

• Senator Tommy Tuberville filed 8 security purchases, including small biotech company Humacyte (HUMA) which has been testing to repair injuries in Ukraine. He also filed 11 security sales including Apple (AAPL), Adobe (ADBE), and Texas Instruments (TXN). Tuberville sits on the Committee on Armed Services. 

• Senator Angus S. King Jr. filed a purchase of Verizon (VZ) stock. He sits on the Committee on Energy and Natural Resources.

• Representative Eleanor Holmes Norton filed a sale of Berkshire Hathaway (BRK.B). Norton sits on the Committee on Transportation and Infrastructure.

• Representative Barry Moore filed a purchase of Bitcoin. Moore sits on the House Commodities Subcommittee, which oversees crypto regulation.

• Senator Tina Smith filed sales of Insulet Corporation (PODD) and Nextera Energy (NEE). Smith sits on the Committee on Health.

• Representative Robert Latta filed a purchase of Farmers and Merchants Bancorp (FMAO). Latta sits on the Committee on Energy and Commerce.

To see more details about their trades, and how they’ve performed since, check out our Congress Trading Dashboard. 

QUIVER DATASET HIGHLIGHT

This index tracks the relative bullishness or bearishness of discussion on the WallStreetBets forum, a subreddit that discusses stock and options trading.

WallStreetBets provides an insight into retail investor sentiment. With this dashboard, you can see a historical breakdown as well as the current weight of fear vs. greed. As of 4/22/24, the index sits at 83.5 out of 100, with 100 being the most bullish outlook and 0 being the most bearish.

Check out the dashboard for a full breakdown. 

WIKIPEDIA MOST-VIEWED STRATEGY

This strategy tracks the performance of the stocks that have had the largest number of page views on their corporate Wikipedia pages over the previous month. This strategy is weighted based on the number of page views, with weekly rebalancing.

The Wiki Most-Viewed strategy is a prime example of the relevance of alternative data. While a stock’s Wikipedia page might not be factored into its typical analysis, there is still a relationship between this data and overall market performance.

Over the last 30 days, a large % of congressional strategies reported negative returns, while Wikipedia’s Most Viewed even pulled ahead of Nancy Pelosi.

You can try out features like this for yourself with Quiver Premium. 

Microsoft's $13 Billion OpenAI Deal Clears EU Regulatory Hurdles

Microsoft's (MSFT) significant $13 billion investment in OpenAI Inc. appears to be navigating clear of stringent regulatory scrutiny, as European Union (EU) merger watchdogs lean towards not initiating a formal investigation. This decision mitigates concerns that the partnership could be forcibly dissolved, ensuring a smoother pathway for collaboration between the tech giant and the artificial intelligence innovator. The European Commission has assessed the deal and concluded that it does not constitute a full takeover nor grant Microsoft control over OpenAI's operational direction, an important distinction that likely influenced their decision against a deeper probe.

The relationship between Microsoft and OpenAI initially drew attention following internal disagreements within OpenAI, which highlighted the close connections between the two entities. Despite this scrutiny, the EU has traditionally approved the vast majority of cases reviewed under its merger regulations, reserving its authority to block deals strictly to those posing significant competitive threats. Microsoft has publicly stated that its alliance with OpenAI enhances AI innovation and maintains competitive integrity without compromising the independence of either company.

Continued on our News Feed.