Every end of month and every end of quarter, we get a spike of critical business information. Take a look at the hour-by-hour breakdown of the end of Q2, July 31st, 2018.
There's an old maxim in the world of trading: buy on the rumor and sell on the announcement. While we don't do trading information at Bitvore, we do have some insights about types of announcements and when they are made. In the graph, there is an overall increase in the volume of business critical stories. New product and new market announcements peak at the end of the month. The number of revenue recognition announcements peak on the day before the quarter ends. In fact, they tend to peak around noon of the day before. Other major changes to a business, such as executive changes, facilities changes, mergers and acquisitions, also seem to peak.
The other old adage is to hide bad news in the middle of lots of other good news, and time good news to catch the momentum of other good news. While our top level signals can provide weighted adjustment within some time period (or period-over-period) it's typically not sufficient to determine whether a piece of news is good or bad by itself. Either way, and the holidays or not, you can expect a lot of news'ing in the coming days as 2018 comes to a close.