[consz]

Increased trading volume generally just means better price discovery. Why do you think increased trading volume means it's "pump and dump?" When I trade SPY, I increase the trading volume in the underlying S&P 500 components -- am I pumping and dumping then?

[notahacker]

Increased trading volume driven by bot-written blogspam produced by the company PR department with the express intent of pumping their share price definitely isn't "better price discovery"

[nickdavidhaynes]

It's a good idea to follow the links before accusing someone of illegal behavior.

Here's the link to the study again: [1]. This is specifically in reference to the reporting on quarterly earnings reports that we automate for the Associated Press. It's an objective summary of the financial performance of these companies that appears in news outlets across the country (for example, [2,3,4,5,6]). The companies being reported on have no influence over the content of the articles.

From the summary:

>These articles synthesize information from firms’ press releases, analyst reports and stock performance, and are widely disseminated by major news outlets within hours of publication...This study found a positive effect between the public dissemination of objective information and market efficiency.

[1] https://insights.ap.org/industry-trends/study-news-automatio...

[2] http://www.thenewstribune.com/news/business/article158779784...

[3] http://wtop.com/business-finance/2017/05/yum-beats-street-1q...

[4] http://www.foxbusiness.com/markets/2017/04/27/dominos-sales-...

[5] http://www.businessinsider.com/ap-fedex-beats-street-1q-fore...

[6] https://www.usnews.com/news/business/articles/2017-04-26/her...

[notahacker]

Fair response and I withdraw and apologise for the implicit accusation against your company specifically. I'm sure you would agree less benign actors exist, which is why I'm reflexively sceptical of the idea that a link between more reporting and more trading volume is an indication of its merit.

I guess if I'd taken the time to read your original link we could have a more interesting discussion on whether pretty basic earnings information in a format more friendly and available to non-professional investors was adding noise to the market or providing a useful counterweight to the amount of free publicity that more prominent companies' earnings get. But I've probably already poisoned the well on this one.