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

MARKET-DISCOVERED GROUP

Information Technology Services

THE TRADER READRecurring relationship, inactive in the latest snapshot

Price direction is split across 17 measured members. Capital-flow agreement is 28%, so the basket is not yet clean.

Price breadth14 up · 3 downRelative median unavailable
Capital-flow alignment28%Price breadth is not yet confirmed by flow
Activity nowCalmActivity score 25/100 · lift 0.8×
Evidence depth6 episodes14 observed active sessions
EVIDENCE CLOCK

What happened, in timestamp order

0 timed events
TIMING READA causal timing read is unavailable because no material member price onset could be timestamped.

No session event has enough timestamp precision to place on the clock.

2 earlier filing context receipts

WED, OCT 22NDAQ filing documented shared operating contextrestructuring affecting expense · date precision only

WED, OCT 29APPF filing documented shared operating contextrestructuring affecting 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.

01 · WHAT IS HAPPENING

The move, the flow and who is driving it

Price breadth, unusual activity and signed capital flow are separate observations
Price sequence unavailableA timestamped price sequence is unavailable.
RELATIVE CO-MOVEMENT

How the members are behaving together

Session-normalized

Observed intraday paths are not available for this group yet.

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

22/28 members covered

Moderate filing support: the strongest shared 10-Q/K outlook is operating setup (near-term outlook) across APPF, BSY, DKNG, FLUT, GEN, GRND, GTM, MGNI, MTCH, NDAQ, PLTK, PYPL, SABR, SHOP, YEXT, ZETA.

restructuring affecting expense

“erger and strategic initiatives 53 23 129.8% Restructuring charges 27 103 (74.4)% Total operating expenses $ 2,155 $ 2,141 0.7% The increase in compensation and benefits expense for the three and nine months ended September 30, 2025 compared with the same periods in 2024 was primarily driven by increased headcount and higher incentive compensation.”

NDAQ 10-Q · 2025-10-23
credit / rates affecting interest expense

“Interest expense decreased for the three and nine months ended September 30, 2025 compared with the same periods in 2024 primarily due to lower average outstanding debt following the repayment of our 2025 Notes and the partial repurchases of several series of outstanding senior unsecured notes.”

NDAQ 10-Q · 2025-10-23
product pipeline / R&D affecting expense

“For the three and six months ended June 30, 2026, on a constant currency basis, research and development expenses increased primarily due to an increase in headcount‑related costs of $5,297 and $11,733, respectively, mainly due to increases in annual and other compensation costs.”

BSY 10-Q · 2026-08-06
CONFIRMATION NETWORK

Outsiders and cross-asset links

0 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.

BMBLNot confirming

GRND · text peer

SKLZRelationship only · live confirmation unavailable

PLTK · text peer

PUBMNot confirming

RDDT · text peer

APPNot confirming

MTCH · text peer

03 · WHO IS IN IT

Member participation

Unusual activity and daily price direction are shown separately
NDAQPAYSLSPDGLBEFLUTGTMGRNDFVRRPYPLOTEXBSYGENGENIRDDTSHOPPARIBMCVLTMTCHMGNIPSODKNGZETAAPPF

14/28 active14 rising · 3 falling

MemberUnusual activityToday's moveRead now
NDAQNasdaq, Inc.
Most unusual · 100/100
+0.7%
Active; unclassifiedActive in 0% of observed group sessions
PAYSPaysign, Inc.
Elevated · 91/100
—
Active; unclassifiedActive in 0% of observed group sessions
LSPDLightspeed Commerce Inc. Subord
Elevated · 90/100
—
Active; unclassifiedActive in 0% of observed group sessions
GLBEGlobal-E Online Ltd.
Elevated · 60/100
-0.6%
Active; unclassifiedActive in 7.1% of observed group sessions
FLUTFlutter Entertainment plc
Elevated · 60/100
+3.2%
Active; unclassifiedActive in 0% of observed group sessions
GTMZoomInfo Technologies Inc.
Elevated · 58/100
—
Active; unclassifiedActive in 0% of observed group sessions
GRNDGrindr Inc.
Elevated · 57/100
-0.8%
Active; unclassifiedActive in 0% of observed group sessions
FVRRFiverr International Ltd.
Elevated · 51/100
—
Active; unclassifiedActive in 21.4% of observed group sessions
PYPLPayPal Holdings, Inc.
Elevated · 49/100
-1.2%
Flow confirmerActive in 0% of observed group sessions
OTEXOpen Text Corporation
Elevated · 48/100
+0.3%
Active; unclassifiedActive in 0% of observed group sessions
BSYBentley Systems, Incorporated
Elevated · 46/100
+1.9%
Active; unclassifiedActive in 7.1% of observed group sessions
GENGen Digital Inc.
Elevated · 46/100
+2.7%
Active; unclassifiedActive in 0% of observed group sessions
GENIGenius Sports Limited
Elevated · 46/100
—
Active; unclassifiedActive in 0% of observed group sessions
RDDTReddit, Inc.
Quiet · 45/100
+1.9%
Watch / laggardActive in 0% of observed group sessions
SHOPShopify Inc.
Quiet · 40/100
+1.4%
Watch / laggardActive in 0% of observed group sessions
PARPAR Technology Corporation
Quiet · 37/100
—
Watch / laggardActive in 0% of observed group sessions
IBMInternational Business Machines Corporation
Quiet · 36/100
+0.8%
Watch / laggardActive in 0% of observed group sessions
CVLTCommvault Systems, Inc.
Quiet · 36/100
+1.7%
Watch / laggardActive in 21.4% of observed group sessions
MTCHMatch Group, Inc.
Quiet · 36/100
+1.5%
Watch / laggardActive in 0% of observed group sessions
MGNIMagnite, Inc.
Quiet · 35/100
—
Watch / laggardActive in 0% of observed group sessions
PSOPearson plc
Quiet · 33/100
+1.2%
Watch / laggardActive in 0% of observed group sessions
DKNGDraftKings Inc.
Quiet · 31/100
+4.6%
Watch / laggardActive in 0% of observed group sessions
ZETAZeta Global Holdings Corp.
Quiet · 30/100
+4.3%
Watch / laggardActive in 0% of observed group sessions
APPFAppFolio, Inc.
Quiet · 27/100
+2.0%
Watch / laggardActive in 21.4% of observed group sessions
View exact member values
TICKERCompanyRole nowTodayObserved historyTrader interpretation
NDAQNasdaq, Inc.Most unusual+0.7%0% of 14 sessionsMost unusual activity in this snapshot; performance direction may differ.
PAYSPaysign, Inc.Participating—0% of 14 sessionsPrice participation is not yet confirmed by per-name flow.
LSPDLightspeed Commerce Inc. SubordParticipating—0% of 14 sessionsPrice participation is not yet confirmed by per-name flow.
GLBEGlobal-E Online Ltd.Participating-0.6%7.1% of 14 sessionsPrice participation is not yet confirmed by per-name flow.
FLUTFlutter Entertainment plcParticipating+3.2%0% of 14 sessionsPrice participation is not yet confirmed by per-name flow.
GTMZoomInfo Technologies Inc.Participating—0% of 14 sessionsPrice participation is not yet confirmed by per-name flow.
GRNDGrindr Inc.Participating-0.8%0% of 14 sessionsPrice participation is not yet confirmed by per-name flow.
FVRRFiverr International Ltd.Participating—21.4% of 14 sessionsPrice participation is not yet confirmed by per-name flow.
PYPLPayPal Holdings, Inc.Participating-1.2%0% of 14 sessionsPrice participation with accumulating signed flow.
OTEXOpen Text CorporationParticipating+0.3%0% of 14 sessionsPrice participation is not yet confirmed by per-name flow.
BSYBentley Systems, IncorporatedParticipating+1.9%7.1% of 14 sessionsPrice participation is not yet confirmed by per-name flow.
GENGen Digital Inc.Participating+2.7%0% of 14 sessionsPrice participation is not yet confirmed by per-name flow.
GENIGenius Sports LimitedParticipating—0% of 14 sessionsPrice participation is not yet confirmed by per-name flow.
RDDTReddit, Inc.Quiet / lagging+1.9%0% of 14 sessionsNot participating yet; a breadth test or a genuine divergence.
SHOPShopify Inc.Quiet / lagging+1.4%0% of 14 sessionsNot participating yet; a breadth test or a genuine divergence.
PARPAR Technology CorporationQuiet / lagging—0% of 14 sessionsNot participating yet; a breadth test or a genuine divergence.
IBMInternational Business Machines CorporationQuiet / lagging+0.8%0% of 14 sessionsNot participating yet; a breadth test or a genuine divergence.
CVLTCommvault Systems, Inc.Quiet / lagging+1.7%21.4% of 14 sessionsNot participating yet; a breadth test or a genuine divergence.
MTCHMatch Group, Inc.Quiet / lagging+1.5%0% of 14 sessionsNot participating yet; a breadth test or a genuine divergence.
MGNIMagnite, Inc.Quiet / lagging—0% of 14 sessionsNot participating yet; a breadth test or a genuine divergence.
PSOPearson plcQuiet / lagging+1.2%0% of 14 sessionsNot participating yet; a breadth test or a genuine divergence.
DKNGDraftKings Inc.Quiet / lagging+4.6%0% of 14 sessionsNot participating yet; a breadth test or a genuine divergence.
ZETAZeta Global Holdings Corp.Quiet / lagging+4.3%0% of 14 sessionsNot participating yet; a breadth test or a genuine divergence.
APPFAppFolio, Inc.Quiet / lagging+2.0%21.4% of 14 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.
moderate structural support

6 completed episodes across 14 active sessions provide moderate historical support. These episode counts describe recurrence; the outcome ledger above is the only forward-performance evidence.

Structural support37 daysHow often the cohort identity was observed
Completed episodes6Separate periods of broad group activity
Active sessions14Completed session observations, not trades
2026-07-091 active session100% composition consistency through the episode
2026-06-24 → 2026-07-016 active sessionsNo name was active through every recorded session
2026-06-171 active session100% composition consistency through the episode
2026-06-121 active session100% composition consistency through the episode
2026-05-29 → 2026-06-053 active sessionsNo name was active through every recorded session
2026-05-19 → 2026-05-202 active sessions42.9% composition consistency through the episode
MEMBER CONSISTENCY IN OBSERVED ACTIVE SESSIONS
APPF21.4% · 2 episodes
CVLT21.4% · 1 episode
FVRR21.4% · 1 episode
VTEX14.3% · 2 episodes
YEXT14.3% · 2 episodes
BSY7.1% · 1 episode
GLBE7.1% · 1 episode
DKNG0% · 0 episodes
FLUT0% · 0 episodes
GEN0% · 0 episodes
GENI0% · 0 episodes
GRND0% · 0 episodes
GTM0% · 0 episodes
IBM0% · 0 episodes
LSPD0% · 0 episodes
MGNI0% · 0 episodes
MTCH0% · 0 episodes
NDAQ0% · 0 episodes
OTEX0% · 0 episodes
PAR0% · 0 episodes
PAYS0% · 0 episodes
PLTK0% · 0 episodes
PSO0% · 0 episodes
PYPL0% · 0 episodes
RDDT0% · 0 episodes
SABR0% · 0 episodes
SHOP0% · 0 episodes
ZETA0% · 0 episodes