Why did it move? Real news — or just flow.

Every big move in a US stock worth $2 billion or more gets one label after the close. The day's labels are fingerprinted and published before the next open, then scored in public 5 and 21 trading days later. Nothing can be quietly deleted later: every label counts.

Early members get the founding price. One email when the API opens; no spam.

The public record

Live from the public ledger. Each day's file gets a SHA-256 fingerprint, chained to the day before, so no past label can be changed without breaking every link after it.

Days chained
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Labels so far
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Latest day
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Verdict (21 days)
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The verdict stays at not enough scored labels yet until there are at least 300 scored labels of each kind and the difference is statistically significant (t ≥ 2). We publish it either way. Check the chain yourself — one Python file, no packages.

How it works

01 · after the close

Find the big moves

Moves of at least 2 standard deviations of the stock's own recent behaviour and at least 3%, after taking out the market.

02 · same evening

Label each one

fact company news — an SEC filing, earnings that moved it hard. flow no company news — index changes, fund flows, rotation, tax selling.

03 · before the open

Fingerprint it

The day's file is hashed into a public chain. The labels themselves go public 30 days later — anyone can check they match.

04 · 5 and 21 days on

Score it

Did flow moves give back more than fact moves? The scorecard shows the answer, good or bad.

{"ticker":"EXAMPLE","date":"2026-10-05","dir":1,"z":3.4,"label":"fact",
 "reasons":["8-K 1.01 material agreement"],"window":["2026-10-01","2026-10-05"],
 "version":"ff-1"}

The format of one label (an illustration, not a real record).

What's coming

Free

$0

The public chain, labels after 30 days, the scorecard.

Same-day labels

from $49/mo

Tonight's labels, by email, web and API.

For AI agents

per call

One label for one ticker, paid per request — built for agents that need to know why something moved.

The Tape, Explained

newsletter

The week's biggest moves and what was really behind them.

Paid plans open once the scorecard has a verdict. Prices may change before launch.

Get in early