MOMO Pro Update: Improved Symbol Categorization
We have some good news to share! We have updated our Stream filtering to include additional categories to help you better tailor the Stream to your needs.
In doing so we have renamed Industry to Categories as we are providing filtering beyond the typical stock market "Industry" nomenclature. These new Categories will enable you to drill down on specific stocks much better than before. As part of the change we have included the number of symbols per category in parenthesis.
The new Categories are as follows:
SPAC - The advent and wildly popular approach of floating a business has added well over a 1000 symbols to the market.
ADR - Many users wanted improved visibility on ADRs. we have added over 450 to our list. (ADRs are American Depository Receipts and offer a way to trade non-US stocks without the complexities of dealing in foreign stock markets. They include some of the most familiar companies in world, including household names such as Nokia, Alibaba, Royal Dutch Petroleum (maker of Shell gasoline), and Unilever. These and many other companies based outside the US list their shares on US exchanges through ADRs.
REAL ESTATE - As with ADRs and SPACs, Real Estate has become more prominent in the market. With over 450 symbols this group of symbols warranted its own category. Note: The Real Estate category includes REITS.
CONSUMER DISCRETIONARY - We have broken up the Consumer categories into Consumer Goods, Consumer Discretionary, and Consumer Services. Discretionary consists of general merchanise, department stores, miscellaneous food, automotive dealers, and gasoline among other things.
CONSUMER SERVICES - Grouping of services which can include A/C repair, barber shops, beauty salons as well as legal and educational services.
COMMUNICATIONS - Previously was grouped under Technology, but to remove the communications services and media we have pulled out approximately 90 symbols to this category.
BUSINESS SERVICES - Formely Services (which combined Business and Consumer Services). Includes 645 businesses which include advertiseing, printing, equipment rental, computer repair, and accounting- type services.\
Why the change?
We had identified some symbols which not showing up in our Stream but were being reported in Discovery. This led us to the fact that our data provider is in the midst of migrating their APIs and isn't labeling all symbols in same manner. As such we made effort to move to new approach.
How can I learn more?
Stay tuned for a detailed table showing the exact mapping of each category and the SIC code range.
We think this will significantly improve the customization as well as the performance of the Stream. We are not beholden to this exact categorization, so let us know if you see opportunities to improve.