Themes / Group
Building · established relationshipLatest completed snapshot · Jul 14 · 18:03 ET

MARKET-DISCOVERED GROUP

Software & Financial Services

THE TRADER READBroad relative move, confirmed beyond the cohort—but not by flow

8 of 12 measured SPY-adjusted paths align to the downside across 6.8 effective names. Common-bar coverage spans 12 of 22 cohort members. JOBY is also moving with filing-linked members. Capital-flow agreement is 24%, so the basket is not yet clean. No verified headline preceded the measured move.

Price breadth9 up · 11 down-1.1% median path versus SPY
Capital-flow alignment24%Price breadth is not yet confirmed by flow
Activity nowNormalActivity score 45/100 · lift 1.0×
Evidence depth3 episodesLow sample—context, not a validated playbook
EVIDENCE CLOCK

What happened, in timestamp order

4 timed events · 10:10–15:55 ET
TIMING READNo verified timestamped headline was found within 24 hours of the first measured price move in the available common-bar window. The move currently reads as market-led or unexplained.
  1. 5-minute inferenceNRXP registered the first material downside path

    -0.68% session path at the threshold · NRXP

  2. 5-minute inferenceLCID registered a material downside path

    -0.62% session path at the threshold · LCID

  3. 5-minute inferenceHIVE registered a material downside path

    -2.18% session path at the threshold · HIVE

  4. 5-minute inferenceAUR registered a material upside path

    +0.43% session path at the threshold · AUR

2 earlier filing context receipts

MON, MAY 4EVGO filing documented shared operating contextcredit / rates affecting interest expense · date precision only

SUN, MAY 10DDD filing documented shared operating contextcredit / rates affecting interest expense · date precision only

Headline times and retained activity confirmations are point-in-time evidence. Price order is inferred from aligned 5-minute bars. Filing evidence has date precision only and is context, not an intraday catalyst claim.
THEME CONSTRUCTION

Broad move or one-stock disguise?

SPY-adjusted 5m paths

Observed movement is broad across 6.8 effective names. EVGO represents 27.3% of absolute path energy; 8 of 12 members align with the down relative path.

ConstructionBroad27.3% from the largest path
Effective names6.8 / 1212 of 22 cohort members had common bars
Direction breadth8/12 aligneddownside relative path · 2 counter-moving
Largest moverEVGO 27.3%42.3% from the top two paths
EVGO27.3%Dominant mover · path -5.88% · basket -0.49pp
MARA15.0%Aligned contributor · path -3.23% · basket -0.27pp
KOPN14.0%Aligned contributor · path -3.02% · basket -0.25pp
NRXP11.8%Aligned contributor · path -2.55% · basket -0.21pp
LCID7.6%Aligned contributor · path -1.64% · basket -0.14pp
HIVE6.5%Aligned contributor · path -1.40% · basket -0.12pp
AUR5.2%Counter-move · path +1.12% · basket +0.09pp
GLXY4.1%Aligned contributor · path -0.88% · basket -0.07pp
FEIM3.8%Counter-move · path +0.81% · basket +0.07pp
FSCO2.7%Aligned contributor · path -0.58% · basket -0.05pp
DDD1.0%Flat / inactive path · path +0.21% · basket +0.02pp
IHS1.0%Flat / inactive path · path +0.23% · basket +0.02pp
Top six names by movement share are shown. Movement share measures absolute 5-minute path energy; signed basket contribution is equal-weight. Neither is a portfolio weight or causal attribution.

01 · WHAT IS HAPPENING

The move, the flow and who is driving it

Price breadth, unusual activity and signed capital flow are separate observations
HOW THE PRICE MOVE SPREAD

Observed session sequence

5-minute bars · inferred
  1. NRXP moved lower firstFirst member to clear the material path threshold · path -0.68%
  2. LCID registered a material lower path0m after the first price move · path -0.62%
  3. HIVE registered a material lower path0m after the first price move · path -2.18%
  4. AUR registered a material higher path0m after the first price move · path +0.43%
  5. GLXY registered a material lower path0m after the first price move · path -1.88%
  6. FEIM registered a material higher path0m after the first price move · path +1.14%

Sequence inferred from aligned 5-minute price paths; it is not a causal ordering.

RELATIVE CO-MOVEMENT

How the members are behaving together

SPY-adjusted
Sep 30 · 10:10 ETMove visible 11:00 ETSep 30 · 15:55 ET
Group median -1.14%Strongest relative path AURWeakest relative path EVGO

Observed member paths adjusted against SPY. The dashed marker shows when the median move first cleared a material threshold; shading marks the latest 20% of the observed window.

02 · WHY IT MATTERS

Why now and where the move could travel

Context and lead/lag links are evidence, not proof of causation or a forecast
WHY NOW

Verified recent context

0 items

No verified recent catalyst is attached to this move. The relationship may be market-led rather than news-led.

WHY THIS GROUP EXISTS

Shared filing context

16/22 members covered

Moderate filing support: the strongest shared 10-Q/K outlook is operating setup (near-term outlook) across DDD, EVGO, GLXY, KOPN, LCID, MARA, NRXP, RUM, VSAT, XXI.

credit / rates affecting interest expense

“Interest expense Interest expense increased by $1.6 million for the three months ended March 31, 2026, compared to the prior year period, primarily due to interest expense related to the 2030 Notes.”

DDD 10-Q · 2026-05-11
restructuring

“Acquired intangible assets are subject to impairment considerations whenever events or circumstances indicate that the carrying amounts may not be recoverable.”

AUR 10-K · 2026-02-11
restructuring affecting expense

“The year-over-year decline in SG&A was primarily due to: • $12.4 million decrease in compensation and benefits expense primarily related to lower compensation expense due to the impact of our restructuring actions and divestitures and lower cash and stock-based annual incentive compensation; • $4.4 million decrease in third-party service provider and consulting costs primarily due to lower audit and accounting fees during the three months ended March 31, 2026; and • $1.2 million decrease in other corporate costs primarily related to reductions in facilities and travel and entertainment costs due to the impact of our cost saving actions completed in the prior year.”

DDD 10-Q · 2026-05-11
CONFIRMATION NETWORK

Outsiders and cross-asset links

1 outsiders confirming

No qualified cross-asset lead/lag link is available for this group.

Filing-linked outsiders test whether the move is spreading beyond the established cohort.

JOBYMoving with group

LCID · text peer

RIVNNot confirming

LCID · text peer

BTGONot confirming

XXI · text peer

KDKNot confirming

AUR · text peer

03 · WHO IS IN IT

Member participation

Unusual activity and daily price direction are shown separately
SSYSIHSHIVEMARAFSCONRXPDDDWRDTSSIRUMSYMSRTAVSATFEIMAURLCIDPONYXXIEVGOKOPNGLXYPRFX

13/22 active9 rising · 11 falling · 2 flat

MemberUnusual activityToday's moveRead now
SSYSStratasys Ltd.
Most unusual · 100/100
-2.5%
Active; unclassifiedActive in 0% of observed group sessions
IHSIHS Holding Limited
Elevated · 91/100
+0.0%
Active; unclassifiedActive in 0% of observed group sessions
HIVEHIVE Digital Technologies Ltd.
Elevated · 84/100
-1.8%
Aligned price + flowActive in 25% of observed group sessions
MARAMARA Holdings, Inc.
Elevated · 67/100
-5.8%
Aligned price + flowActive in 50% of observed group sessions
FSCOFS Credit Opportunities Corp.
Elevated · 62/100
-0.4%
Aligned path contributorActive in 0% of observed group sessions
NRXPNRx Pharmaceuticals, Inc.
Elevated · 59/100
+0.0%
Aligned path contributorActive in 0% of observed group sessions
DDD3D Systems Corporation
Elevated · 58/100
+2.6%
Active; unclassifiedActive in 0% of observed group sessions
WRDWeRide Inc.
Elevated · 51/100
+1.3%
Active; unclassifiedActive in 0% of observed group sessions
TSSITSS, Inc.
Elevated · 51/100
-0.6%
Active; unclassifiedActive in 0% of observed group sessions
RUMRUM Group Inc.
Elevated · 50/100
-2.5%
Active; unclassifiedActive in 0% of observed group sessions
SYMSymbotic Inc.
Elevated · 48/100
+1.4%
Flow confirmerActive in 0% of observed group sessions
SRTAStrata Critical Medical, Inc.
Elevated · 47/100
+0.4%
Active; unclassifiedActive in 0% of observed group sessions
VSATViasat, Inc.
Elevated · 40/100
+1.8%
Active; unclassifiedActive in 12.5% of observed group sessions
FEIMFrequency Electronics, Inc.
Quiet · 38/100
+0.5%
Watch / laggardActive in 12.5% of observed group sessions
AURAurora Innovation, Inc.
Quiet · 35/100
+2.8%
Watch / laggardActive in 12.5% of observed group sessions
LCIDLucid Group, Inc.
Quiet · 34/100
-0.1%
Watch / laggardActive in 0% of observed group sessions
PONYPony AI Inc.
Quiet · 31/100
+0.2%
Watch / laggardActive in 12.5% of observed group sessions
XXITwenty One Capital, Inc.
Quiet · 28/100
-0.3%
Watch / laggardActive in 0% of observed group sessions
EVGOEVgo, Inc.
Quiet · 26/100
-5.6%
Watch / laggardActive in 0% of observed group sessions
KOPNKopin Corporation
Quiet · 26/100
-3.6%
Watch / laggardActive in 0% of observed group sessions
GLXYGalaxy Digital
Quiet · 24/100
-1.4%
Watch / laggardActive in 0% of observed group sessions
PRFXPRF Technologies Ltd.
Quiet · 23/100
+0.6%
Watch / laggardActive in 0% of observed group sessions
View exact member values
TICKERCompanyRole nowTodayObserved historyTrader interpretation
SSYSStratasys Ltd.Most unusual-2.5%0% of 8 sessionsMost unusual activity in this snapshot; performance direction may differ.
IHSIHS Holding LimitedParticipating+0.0%0% of 8 sessionsPrice participation is not yet confirmed by per-name flow.
HIVEHIVE Digital Technologies Ltd.Participating-1.8%25% of 8 sessionsPrice participation with distributing signed flow.
MARAMARA Holdings, Inc.Participating-5.8%50% of 8 sessionsPrice participation with distributing signed flow.
FSCOFS Credit Opportunities Corp.Participating-0.4%0% of 8 sessionsPrice participation is not yet confirmed by per-name flow.
NRXPNRx Pharmaceuticals, Inc.Participating+0.0%0% of 8 sessionsPrice participation is not yet confirmed by per-name flow.
DDD3D Systems CorporationParticipating+2.6%0% of 8 sessionsPrice participation is not yet confirmed by per-name flow.
WRDWeRide Inc.Participating+1.3%0% of 8 sessionsPrice participation is not yet confirmed by per-name flow.
TSSITSS, Inc.Participating-0.6%0% of 8 sessionsPrice participation is not yet confirmed by per-name flow.
RUMRUM Group Inc.Participating-2.5%0% of 8 sessionsPrice participation is not yet confirmed by per-name flow.
SYMSymbotic Inc.Participating+1.4%0% of 8 sessionsPrice participation with accumulating signed flow.
SRTAStrata Critical Medical, Inc.Participating+0.4%0% of 8 sessionsPrice participation is not yet confirmed by per-name flow.
VSATViasat, Inc.Participating+1.8%12.5% of 8 sessionsPrice participation is not yet confirmed by per-name flow.
FEIMFrequency Electronics, Inc.Quiet / lagging+0.5%12.5% of 8 sessionsNot participating yet; a breadth test or a genuine divergence.
AURAurora Innovation, Inc.Quiet / lagging+2.8%12.5% of 8 sessionsNot participating yet; a breadth test or a genuine divergence.
LCIDLucid Group, Inc.Quiet / lagging-0.1%0% of 8 sessionsNot participating yet; a breadth test or a genuine divergence.
PONYPony AI Inc.Quiet / lagging+0.2%12.5% of 8 sessionsNot participating yet; a breadth test or a genuine divergence.
XXITwenty One Capital, Inc.Quiet / lagging-0.3%0% of 8 sessionsNot participating yet; a breadth test or a genuine divergence.
EVGOEVgo, Inc.Quiet / lagging-5.6%0% of 8 sessionsNot participating yet; a breadth test or a genuine divergence.
KOPNKopin CorporationQuiet / lagging-3.6%0% of 8 sessionsNot participating yet; a breadth test or a genuine divergence.
GLXYGalaxy DigitalQuiet / lagging-1.4%0% of 8 sessionsNot participating yet; a breadth test or a genuine divergence.
PRFXPRF Technologies Ltd.Quiet / lagging+0.6%0% of 8 sessionsNot participating yet; a breadth test or a genuine divergence.

04 · HAS THIS HAPPENED BEFORE

Identity history versus measured outcomes

Structural recurrence is not the same as a validated trading outcome
POINT-IN-TIME LIVE OUTCOMES

Live outcome ledger collecting

0/0 events completed

No completed point-in-time outcome is available yet. New live confirmations are now retained with their exact observation timestamp; statistics appear only after the corresponding candles complete.

Only point-in-time live watcher observations and conservative same-day EOD observations are included. Later backfills and replay runs are excluded.
Low structural sample

Only 3 completed episodes across 8 active sessions; treat history as context, not a validated playbook. These episode counts describe recurrence; the outcome ledger above is the only forward-performance evidence.

Structural support45 daysHow often the cohort identity was observed
Completed episodes3Separate periods of broad group activity
Active sessions8Completed session observations, not trades
2026-07-071 active session100% composition consistency through the episode
2026-06-24 → 2026-07-026 active sessionsNo name was active through every recorded session
2026-06-051 active session100% composition consistency through the episode
MEMBER CONSISTENCY IN OBSERVED ACTIVE SESSIONS
MARA50% · 2 episodes
HIVE25% · 1 episode
AUR12.5% · 1 episode
FEIM12.5% · 1 episode
PONY12.5% · 1 episode
VSAT12.5% · 1 episode
DDD0% · 0 episodes
EVGO0% · 0 episodes
FSCO0% · 0 episodes
GLXY0% · 0 episodes
IHS0% · 0 episodes
KOPN0% · 0 episodes
LCID0% · 0 episodes
NRXP0% · 0 episodes
PRFX0% · 0 episodes
RUM0% · 0 episodes
SRTA0% · 0 episodes
SSYS0% · 0 episodes
SYM0% · 0 episodes
TSSI0% · 0 episodes
WRD0% · 0 episodes
XXI0% · 0 episodes