CDNL episode 20261013_CDNL_MIDDAY

Public episode JSON embedded as readable text for automated access.

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  "episode_id": "20261013_CDNL_MIDDAY",
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  "public_page_url": "https://trydingday.com/coverage/cdnl/2026-10-13/midday/",
  "published_at": "2026-10-13T19:09:47.533686Z",
  "updated_at": "2026-10-23T22:03:26.404377Z",
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    "stage": "tracking"
  },
  "instrument": {
    "type": "equity",
    "symbol": "CDNL",
    "exchange": "NASDAQ",
    "name": "Cardinal Infrastructure Group Inc."
  },
  "technical_reference": {
    "status": "ok",
    "reference_price": 17.75,
    "model_downside_reference": 13.88,
    "model_upside_scenario_1": 21.62,
    "model_upside_scenario_2": 25.49,
    "atr_14": 2.58,
    "method": "reference_price_plus_minus_atr14"
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  "public_content": {
    "date": "October 13, 2026",
    "generated_at": "2026-10-13T19:09:47.533686Z",
    "original_published_at": null,
    "session_tag": "midday",
    "label": "Market coverage",
    "try_label": "Raw Try",
    "public_status": "Raw Try",
    "why_today": "The reported Hughes Brothers acquisition gives CDNL a specific question to investigate. Its captured daily change was -15.39%, and the intraday observation was below VWAP, the session's average price weighted by trading volume. The packet does not establish financing, closing terms, expected contribution, or integration costs, so this is a research thesis rather than a claim of recovery.",
    "entry_reasoning": "Panel thesis: Whether Cardinal Infrastructure Group's reported Hughes Brothers acquisition can add a credible growth path without financing and integration costs undermining the case. The supplied price response does not establish a rebound or justify Try of the Day. Invalidation boundary: The thesis weakens if disclosed terms show unavailable or materially dilutive funding without a credible contribution, or if closing conditions fail. Continued relative weakness after terms are clarified would also count against the prospective case.",
    "reference_price": 17.75,
    "scanner": {
      "price": 17.75,
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      "score": null,
      "score_version": "legacy research",
      "change": -15.39,
      "volume": 1076681.0,
      "average_volume": 737350.0,
      "volume_ratio": 1.47,
      "rsi": 23.09,
      "ema_trend": "23.94 > 27.99 > 37.05",
      "position_52w": 18.36,
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        "index": "QQQ",
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        "status": "idiosyncratic"
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      "volume_percentile": {
        "median_vol": 550700,
        "percentile": 87.7,
        "status": "elevated",
        "today_vol": 1076681
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        "ema_ref": 27.99,
        "status": "below"
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        "status": "noise",
        "z": -1.06
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      "sector_breadth": null,
      "sentiment": null,
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      "earnings_warning": {
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        "status": "clear"
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        "phase": "regular",
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      "short_pct_float": 13.74,
      "days_to_cover": 4.06,
      "catalyst": "Cardinal Infrastructure Group To Acquire Hughes Brothers Construction For $357.5M",
      "sector": "Industrials",
      "exchange": "NASDAQ",
      "sec_signal": null
    },
    "levels": {
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    "review": {
      "score": null,
      "status": "Raw Try",
      "summary": "The reported Hughes Brothers acquisition gives CDNL a specific question to investigate. Its captured daily change was -15.39%, and the intraday observation was below VWAP, the session's average price weighted by trading volume. The packet does not establish financing, closing terms, expected contribution, or integration costs, so this is a research thesis rather than a claim of recovery.",
      "views": [
        {
          "name": "Elena Vartanyan",
          "role": "independent statistical auditor",
          "icon": "🎯",
          "view": "The broad market is subdued, with more pressure in Nasdaq and small caps. The energy and housing headlines add uncertainty, but they do not explain any one company. I am judging the supplied cases on their own evidence and their possible path through the next fifteen sessions.",
          "reasoning": "The majority retains Raw Try because the deal gives a concrete next check and falsifier. The public comparison is now limited to the selected case and those four alternatives."
        },
        {
          "name": "Marcus Feld",
          "role": "information, fundamentals and catalyst analyst",
          "icon": "🦊",
          "view": "Agreed. Hormuz and oil-demand headlines are loud today, and the AI-finance story is competing for attention. That is context, not a free catalyst for any ticker in this packet.",
          "reasoning": "The reported $357.5 million deal gives us specific checks: funding, conditions, contribution, and integration costs. The captured decline and relative weakness keep it below Try of the Day."
        },
        {
          "name": "Nate Brooks",
          "role": "market structure and timing analyst",
          "icon": "📈",
          "view": "The intraday breadth proxy also leans negative, though it covers a defined 300-name set and the end-of-day cut is missing. Caution is fair; pretending that proxy tells us what CDNL or any other single name must do is not.",
          "reasoning": "I retain the dissent for Caught: No Try: until the acquisition terms are disclosed, the business contribution remains uncertain. I agree the corrected shortlist is clearer and that no model conclusion should be inferred from unavailable outputs."
        },
        {
          "name": "Priya Nandakumar",
          "role": "institutional risk and execution manager",
          "icon": "🛡️",
          "view": "That excludes Try of the Day for me. The supplied 20-session figures show CDNL down 47.27% while XLI was down 0.80%, a 46.47-point gap. The market backdrop cannot explain that away, and the packet gives us no financing terms.",
          "reasoning": "The alternatives have real questions too: VIAV's funded Army scope, ITRG's financing path, ALKT's customer economics, and FRMI's reported credit-support terms. Each has a material piece missing in this packet."
        },
        {
          "name": "Kenji Osei",
          "role": "AI Systems & Market Data Integrity Analyst",
          "icon": "🧠",
          "view": "The volume ratio is 1.47, meaning about one and a half times its three-month average volume. It confirms unusually active trading, not net buying. The acquisition is a reported event; the price response and the deal terms are separate questions.",
          "reasoning": "For clarity, VWAP is the session's average price weighted by shares traded. CDNL was below it in the captured observation, which describes that session's trading and does not forecast the next one."
        }
      ],
      "conviction": {
        "status_phrase": "recorded",
        "basis": "Editorial confidence in Raw Try, not a return probability or model output. The acquisition provides a concrete research question; the weak tape and missing deal terms keep confidence bounded. The committee status records the explicit dissent.",
        "risk": "",
        "resolution_pct": 68.0,
        "counter_case_pct": 22.0,
        "unresolved_pct": 10.0
      },
      "context_roundtable": {
        "mode": "coffee",
        "status": "complete",
        "consulted_voice_ids": [
          "elena",
          "marcus",
          "kenji",
          "priya",
          "nate"
        ],
        "summary": "The day’s context pulled in different directions: a softer early oil and dollar read met renewed shipping and refinery risks, while Gulf output recovery and a sharply lower oil-demand growth forecast complicated the supply story. The supplied later market snapshot showed pressure across U.S. benchmarks, especially smaller companies, even as rates and the dollar eased.",
        "long_read": "The day opened with a market interpretation that geopolitical escalation might remain contained: Reuters reported oil and the dollar easing as traders focused on the Federal Reserve’s rate path. Later reporting raised the shipping risk around Hormuz. AP relayed an assessment that Iran appeared to be targeting ship-to-ship oil transfers, and the supplied news cut carried reports of attacks on vessels. OPEC’s ministers separately described shipping and insurance costs as a growing burden, while the IEA reported sustained attacks on Russian refineries and fuel-export restrictions. The energy picture was therefore not a single supply headline.\n\nThere were counterweights. The supplied context reported a rebound in Gulf production and Saudi output of about 8.4 million barrels per day in September; that Saudi figure is a reported production level, not a change. OPEC’s 2026 global oil-demand-growth forecast was trimmed to 0.2 million barrels per day. That is a forecast for growth, not a claim that current demand fell by that amount. Recovering production, constrained transport, refinery disruption, and weaker expected demand can coexist.\n\nThe supplied 16:54 UTC market snapshot showed the major U.S. benchmarks lower, with the Russell 2000 lagging, while the VIX rose and Treasury yields and the dollar eased. The complete intraday breadth proxy leaned negative, particularly among smaller companies. These are descriptions of the session, not proof that any one headline caused the moves. Housing reports in the supplied context pointed to a difficult transaction environment, while a separate market-structure item put the S&P 500 earnings yield below the 10-year Treasury yield. Those observations add demand and valuation questions without resolving them. CNBC’s report that Anthropic would disclose new revenue numbers and Reuters’ report of LSEG talks to buy Octus also put the distinction between announced plans, negotiations, and realized economics in view.\n\nFor the already selected CDNL case, this wider setting can frame questions about demand, financing, and durable contribution; it cannot establish company-specific outcomes. The formal Raw Try selection remains sealed.",
        "transcript": [
          {
            "speaker_id": "elena",
            "text": "At 16:54 UTC, the supplied snapshot had the S&P 500 down 0.04%, the Nasdaq-100 down 0.39%, and the Russell 2000 down 0.92%; the VIX was up 3.91%. Treasury yields and the dollar eased. Pressure, yes; one clean market story, no."
          },
          {
            "speaker_id": "marcus",
            "text": "Earlier, Reuters described oil and the dollar slipping as traders leaned toward contained Middle East tension and watched the Fed’s rate path. That was the market’s read at that point, not a guarantee about what ships would face later."
          },
          {
            "speaker_id": "priya",
            "text": "And then the shipping reports arrived. AP, citing the Institute for the Study of War, said Iran appeared to be targeting ship-to-ship oil transfers; the sealed news cut also reported a severe run of attacks in Hormuz. “Contained” was an assumption, not a safety certificate.",
            "source_urls": [
              "https://x.com/ftenergy/status/2110002463935807581"
            ]
          },
          {
            "speaker_id": "kenji",
            "text": "There are separate bottlenecks here. OPEC described high shipping and insurance costs; the IEA described attacks on Russian refining and fuel-export restrictions. Crude production, safe transport, and usable refined fuel are different parts of the chain.",
            "source_urls": [
              "https://www.iea.org/commentaries/russian-refining-sector-struggles-amid-intensifying-ukrainian-attacks"
            ]
          },
          {
            "speaker_id": "marcus",
            "text": "But the supply side was not uniformly shrinking. The supplied reports said Gulf production was rebounding, and Saudi production was reported at about 8.4 million barrels per day in September. That is a monthly level, not a measured increase for the day.",
            "source_urls": [
              "https://x.com/ftenergy/status/2110002417643237475",
              "https://x.com/JavierBlas/status/2109978956879610055"
            ]
          },
          {
            "speaker_id": "elena",
            "text": "Then put the demand forecast beside it: OPEC trimmed its 2026 global oil-demand-growth forecast to 0.2 million barrels per day. That is the forecast for growth, not a 0.2 million-barrel decline in current demand.",
            "source_urls": [
              "https://x.com/OPECSecretariat/status/2110013087537414465"
            ]
          },
          {
            "speaker_id": "nate",
            "text": "On the stock tape, the complete breadth proxy leaned negative, especially among smaller companies, and the Russell lagged. That supports the picture of uneven pressure. It tells us nothing by itself about an individual stock."
          },
          {
            "speaker_id": "kenji",
            "text": "The VIX rose 3.91% in that same snapshot. It is an options-based gauge of expected near-term market volatility, not a count of losses or proof of panic. Yields easing at the same time makes this a mixed cross-asset read."
          },
          {
            "speaker_id": "priya",
            "text": "The housing items deserve a place in the risk picture too: sellers reportedly outnumber buyers by the widest gap since 2013, and September purchase cancellations set a record for that month. That points to transaction friction, not a full forecast for the economy.",
            "source_urls": [
              "https://x.com/charliebilello/status/2109683013521121363",
              "https://x.com/charliebilello/status/2109692824488911243"
            ]
          },
          {
            "speaker_id": "marcus",
            "text": "For Cardinal, residential work is one end market among several; the company also describes commercial, industrial, municipal, and state projects. The housing headlines make one exposure worth watching, not the whole demand story."
          },
          {
            "speaker_id": "elena",
            "text": "One valuation comparison in the supplied context: the S&P 500 earnings yield sat 1.5 percentage points below the 10-year Treasury yield. That is a relationship between two yields, not a daily percentage move.",
            "source_urls": [
              "https://x.com/KobeissiLetter/status/2109798155050987549"
            ]
          },
          {
            "speaker_id": "kenji",
            "text": "Earnings yield—quick clarification: that is not the cash dividend an investor receives, is it?",
            "source_urls": [
              "https://x.com/KobeissiLetter/status/2109798155050987549"
            ]
          },
          {
            "speaker_id": "elena",
            "text": "Right. It compares companies’ earnings with their share prices. Sitting below a Treasury yield can be a valuation hurdle for stocks; it does not tell us what caused today’s market move.",
            "source_urls": [
              "https://x.com/KobeissiLetter/status/2109798155050987549"
            ]
          },
          {
            "speaker_id": "marcus",
            "text": "The business headlines have the same stage problem. CNBC said Anthropic was due to disclose revenue numbers; Reuters reported LSEG was in talks to buy Octus for about $3.5 billion. A planned disclosure and reported talks are not realized results or a completed deal.",
            "source_urls": [
              "https://x.com/CNBC/status/2110021744920531359",
              "https://x.com/ReutersBiz/status/2110019042861895729"
            ]
          },
          {
            "speaker_id": "priya",
            "text": "That is why the broad backdrop can frame the CDNL question but cannot answer it. Demand conditions, financing, and integration costs matter; the day’s index and commodity moves do not establish whether an acquisition will produce durable value."
          }
        ],
        "source_urls": [
          "https://x.com/ftenergy/status/2110002463935807581",
          "https://www.iea.org/commentaries/russian-refining-sector-struggles-amid-intensifying-ukrainian-attacks",
          "https://x.com/ftenergy/status/2110002417643237475",
          "https://x.com/JavierBlas/status/2109978956879610055",
          "https://x.com/OPECSecretariat/status/2110013087537414465",
          "https://x.com/charliebilello/status/2109683013521121363",
          "https://x.com/charliebilello/status/2109692824488911243",
          "https://x.com/KobeissiLetter/status/2109798155050987549",
          "https://x.com/CNBC/status/2110021744920531359",
          "https://x.com/ReutersBiz/status/2110019042861895729"
        ]
      },
      "context_roundtable_sources": [
        {
          "event_id": "mi_evt_b0f5140726e1bfb92bd2d1fc",
          "headline": "US home sellers outnumber buyers by the widest gap since 2013",
          "url": "https://x.com/charliebilello/status/2109683013521121363",
          "publisher": "Charlie Bilello",
          "source_quality": "market_context",
          "public_safe": true,
          "published_at": "2026-10-12T16:30:00Z",
          "available_at": "2026-10-12T16:30:00+00:00"
        },
        {
          "event_id": "mi_evt_b8260adcef3e5b219a6c7ab2",
          "headline": "September US home-purchase cancellations reached a record for the month",
          "url": "https://x.com/charliebilello/status/2109692824488911243",
          "publisher": "Charlie Bilello",
          "source_quality": "market_context",
          "public_safe": true,
          "published_at": "2026-10-12T17:09:00Z",
          "available_at": "2026-10-12T17:09:00+00:00"
        },
        {
          "event_id": "mi_evt_d5341d7641629e29d9c346ea",
          "headline": "IEA details sustained Russian refinery attacks and fuel-export restrictions",
          "url": "https://www.iea.org/commentaries/russian-refining-sector-struggles-amid-intensifying-ukrainian-attacks",
          "publisher": "International Energy Agency",
          "source_quality": "primary",
          "public_safe": true,
          "published_at": "2026-10-12T20:45:00Z",
          "available_at": "2026-10-12T20:45:00+00:00"
        },
        {
          "event_id": "mi_evt_cce8e5794e37f82290bdbbd3",
          "headline": "S&P 500 earnings yield falls 1.5 percentage points below the 10-year Treasury yield",
          "url": "https://x.com/KobeissiLetter/status/2109798155050987549",
          "publisher": "The Kobeissi Letter",
          "source_quality": "market_context",
          "public_safe": true,
          "published_at": "2026-10-13T00:07:00Z",
          "available_at": "2026-10-13T00:07:00+00:00"
        },
        {
          "event_id": "mi_evt_177675eade469ef7d220ccbb",
          "headline": "Anthropic to disclose new revenue numbers as AI lab financials become central to tech trade",
          "url": "https://x.com/CNBC/status/2110021744920531359",
          "publisher": "CNBC",
          "source_quality": "trusted_reporting",
          "public_safe": true,
          "published_at": "2026-10-13T14:56:00Z",
          "available_at": "2026-10-13T15:39:21+00:00"
        },
        {
          "event_id": "mi_evt_469bc18921494544ba51719b",
          "headline": "Saudi oil production reported at about 8.4 million barrels per day in September",
          "url": "https://x.com/JavierBlas/status/2109978956879610055",
          "publisher": "Javier Blas",
          "source_quality": "trusted_reporting",
          "public_safe": true,
          "published_at": "2026-10-13T12:05:59Z",
          "available_at": "2026-10-13T15:39:21+00:00"
        },
        {
          "event_id": "mi_evt_c9f114f9d25876f8af805d0a",
          "headline": "OPEC trims 2026 global oil-demand growth forecast to 0.2 million barrels per day",
          "url": "https://x.com/OPECSecretariat/status/2110013087537414465",
          "publisher": "OPEC Secretariat",
          "source_quality": "primary",
          "public_safe": true,
          "published_at": "2026-10-13T14:21:36Z",
          "available_at": "2026-10-13T15:39:21+00:00"
        },
        {
          "event_id": "mi_evt_585e4d877616f9ab4968e82f",
          "headline": "LSEG reported in talks to buy Octus for about $3.5 billion",
          "url": "https://x.com/ReutersBiz/status/2110019042861895729",
          "publisher": "Reuters Business",
          "source_quality": "trusted_reporting",
          "public_safe": true,
          "published_at": "2026-10-13T14:45:16Z",
          "available_at": "2026-10-13T15:39:21+00:00"
        },
        {
          "event_id": "mi_evt_44d71048c7c9ccefa3e284f7",
          "headline": "Gulf oil production rebounds ahead of increase in Iran war hostilities",
          "url": "https://x.com/ftenergy/status/2110002417643237475",
          "publisher": "FT Energy",
          "source_quality": "trusted_reporting",
          "public_safe": true,
          "published_at": "2026-10-13T13:39:12Z",
          "available_at": "2026-10-13T15:39:21+00:00"
        },
        {
          "event_id": "mi_evt_107a35e36b14870e03f36569",
          "headline": "Ships in Hormuz strait hit by worst spate of attacks since start of war",
          "url": "https://x.com/ftenergy/status/2110002463935807581",
          "publisher": "FT Energy",
          "source_quality": "trusted_reporting",
          "public_safe": true,
          "published_at": "2026-10-13T13:39:24Z",
          "available_at": "2026-10-13T15:39:21+00:00"
        }
      ]
    },
    "updates": [
      {
        "day": 8,
        "timestamp": "2026-10-23T22:03:26.404377Z",
        "date": "Session 8 · Oct 23, 2026 · 18:03 NASDAQ",
        "text": "On session 8 the tracked loss widened 1.86 points to 22.28%, despite the latest capture gaining 0.80% to $13.80 above VWAP. The 20-session lag to Industrials widened to 47.34 points and the 20-session flow reading remains distribution. The Hughes Brothers deal is still a question of financing, closing, contribution and integration; this rebound alone does not establish value.",
        "price": 13.8,
        "pct": -22.28,
        "return_vs_entry_pct": -22.25,
        "return_vs_base_pct": -22.25,
        "return_vs_prior_pct": null,
        "previous_regular_close": null,
        "change_vs_prior_session_pct": -1.91,
        "session_day": 8,
        "reference_price": 17.75,
        "reference_text": "$13.80 · -22.25% from $17.75 base",
        "timing": "",
        "market_marker": null,
        "extended_hours": null,
        "relevant": false,
        "active_relevant": false,
        "terminal_closure": false,
        "transcript_anchor": "",
        "price_as_of": "2026-10-23T21:22:43Z",
        "vwap_as_of": null
      },
      {
        "day": 8,
        "timestamp": "2026-10-23T19:54:14.238659Z",
        "date": "Session 8 · Oct 23, 2026 · 15:54 NASDAQ",
        "text": "The tracked loss narrowed 4.28 points to 20.42% on session 8 as shares rose 3.29% to $14.14 near the session high, on volume close to its three-month average. The 20-session lag to Industrials narrowed slightly to 46.48 points, but the packet still leaves the conditional Hughes Brothers transaction closing, contribution and integration costs unresolved; one rebound does not establish deal value.",
        "price": 14.14,
        "pct": -20.42,
        "return_vs_entry_pct": -20.34,
        "return_vs_base_pct": -20.34,
        "return_vs_prior_pct": null,
        "previous_regular_close": null,
        "change_vs_prior_session_pct": 4.08,
        "session_day": 8,
        "reference_price": 17.75,
        "reference_text": "$14.14 · -20.34% from $17.75 base",
        "timing": "",
        "market_marker": null,
        "extended_hours": null,
        "relevant": true,
        "active_relevant": true,
        "terminal_closure": false,
        "transcript_anchor": "transcript-entry-4c75b8c00f2eeb41897bdc88db567f992b427edd621fcf5e18284a597b765d7a",
        "price_as_of": "2026-10-23T19:22:12.987963Z",
        "vwap_as_of": null
      },
      {
        "day": 8,
        "timestamp": "2026-10-23T14:57:25.203935Z",
        "date": "Session 8 · Oct 23, 2026 · 10:57 NASDAQ",
        "text": "The tracked loss widened another 1.81 points to 24.70% on session 8 as shares fell 2.01% to $13.42, though they sat just above the session average on light activity. A 47.92-point 20-session lag to Industrials remains severe; the Hughes Brothers deal is still conditional, and the evidence does not establish its financing or contribution.",
        "price": 13.415,
        "pct": -24.7,
        "return_vs_entry_pct": -24.42,
        "return_vs_base_pct": -24.42,
        "return_vs_prior_pct": null,
        "previous_regular_close": null,
        "change_vs_prior_session_pct": -1.55,
        "session_day": 8,
        "reference_price": 17.75,
        "reference_text": "$13.41 · -24.42% from $17.75 base",
        "timing": "",
        "market_marker": null,
        "extended_hours": null,
        "relevant": false,
        "active_relevant": false,
        "terminal_closure": false,
        "transcript_anchor": "",
        "price_as_of": "2026-10-23T14:06:04.621810Z",
        "vwap_as_of": null
      },
      {
        "day": 7,
        "timestamp": "2026-10-22T22:04:36.798417Z",
        "date": "Session 7 · Oct 22, 2026 · 18:04 NASDAQ",
        "text": "The tracked loss narrowed 0.37 points to 22.89% on session 7, but shares fell 6.49% to $13.69 below VWAP near the session low on 0.91 times average volume. The 20-session lag to Industrials remains 49.05 points; the Hughes Brothers deal is still conditional, with its contribution and integration economics unproven.",
        "price": 13.69,
        "pct": -22.89,
        "return_vs_entry_pct": -22.87,
        "return_vs_base_pct": -22.87,
        "return_vs_prior_pct": null,
        "previous_regular_close": null,
        "change_vs_prior_session_pct": 0.4,
        "session_day": 7,
        "reference_price": 17.75,
        "reference_text": "$13.69 · -22.87% from $17.75 base",
        "timing": "",
        "market_marker": null,
        "extended_hours": null,
        "relevant": false,
        "active_relevant": false,
        "terminal_closure": false,
        "transcript_anchor": "",
        "price_as_of": "2026-10-22T20:00:23Z",
        "vwap_as_of": null
      },
      {
        "day": 7,
        "timestamp": "2026-10-22T19:42:01.998139Z",
        "date": "Session 7 · Oct 22, 2026 · 15:42 NASDAQ",
        "text": "CDNL's tracked loss widened 5.72 percentage points to 23.26% on session 7; shares fell 6.97% to $13.62, below VWAP and near the session low, on 0.59 times average volume. Its 20-session return trailed Industrials by 49.01 points. The Hughes Brothers deal remains conditional, with contribution and integration economics unproven; the model's 41.8% same-direction estimate through session 15 and wide -14.0% to +12.3% range do not explain the decline or settle the deal's value.",
        "price": 13.62,
        "pct": -23.26,
        "return_vs_entry_pct": -23.27,
        "return_vs_base_pct": -23.27,
        "return_vs_prior_pct": null,
        "previous_regular_close": null,
        "change_vs_prior_session_pct": -5.75,
        "session_day": 7,
        "reference_price": 17.75,
        "reference_text": "$13.62 · -23.27% from $17.75 base",
        "timing": "",
        "market_marker": null,
        "extended_hours": null,
        "relevant": true,
        "active_relevant": false,
        "terminal_closure": false,
        "transcript_anchor": "transcript-entry-e2c46b9c1326d698d5766434429320ac53d8efdca540e15aef22bb467cc92850",
        "price_as_of": "2026-10-22T19:21:50.306215Z",
        "vwap_as_of": null
      },
      {
        "day": 6,
        "timestamp": "2026-10-21T21:16:57.140549Z",
        "date": "Session 6 · Oct 21, 2026 · 17:16 NASDAQ",
        "text": "The tracked loss for CDNL widened 3.15 percentage points to -17.54% on session 6. The latest regular-session read fell 3.68%; the final cut was 0.81% above VWAP but stayed in the lower third of the range, with time-adjusted volume at 0.44 and easing. Over twenty sessions CDNL is down 48.95% against Industrials at -1.05%, with distribution still showing. The $357.5 million Hughes Brothers deal remains conditional; earnout terms clarify payments, not contribution or integration economics. The model is near even for the next session, and price weakness neither settles the acquisition thesis nor proves the deal has failed.",
        "price": 14.64,
        "pct": -17.54,
        "return_vs_entry_pct": -17.52,
        "return_vs_base_pct": -17.52,
        "return_vs_prior_pct": null,
        "previous_regular_close": null,
        "change_vs_prior_session_pct": -3.15,
        "session_day": 6,
        "reference_price": 17.75,
        "reference_text": "$14.64 · -17.52% from $17.75 base",
        "timing": "",
        "market_marker": null,
        "extended_hours": null,
        "relevant": true,
        "active_relevant": false,
        "terminal_closure": false,
        "transcript_anchor": "transcript-entry-f1b057adf9557e5c96f84d7632abf968c5443d08770d75684533700cd4cfd250",
        "price_as_of": "2026-10-21T20:01:07Z",
        "vwap_as_of": null
      },
      {
        "day": 6,
        "timestamp": "2026-10-21T00:36:23.448215Z",
        "date": "Session 6 · Oct 20, 2026 · 20:36 NASDAQ",
        "text": "CDNL's tracked loss remained 14.39% on session 6; the latest capture shows shares down 4.22% to $15.20 on 1.72 times average volume, 0.50% below VWAP. The $357.5 million Hughes Brothers deal remains conditional and includes up to $162.5 million tied to future adjusted EBITDA, while CDNL trails Industrials by 47.71 points over 20 sessions; the acquisition is still a conditional growth case amid renewed price weakness.",
        "price": 15.2,
        "pct": -14.39,
        "return_vs_entry_pct": -14.37,
        "return_vs_base_pct": -14.37,
        "return_vs_prior_pct": null,
        "previous_regular_close": null,
        "change_vs_prior_session_pct": 1.57,
        "session_day": 6,
        "reference_price": 17.75,
        "reference_text": "$15.20 · -14.37% from $17.75 base",
        "timing": "",
        "market_marker": null,
        "extended_hours": null,
        "relevant": false,
        "active_relevant": false,
        "terminal_closure": false,
        "transcript_anchor": "",
        "price_as_of": "2026-10-20T21:20:00Z",
        "vwap_as_of": null
      },
      {
        "day": 5,
        "timestamp": "2026-10-20T21:18:11.106939Z",
        "date": "Session 5 · Oct 20, 2026 · 17:18 NASDAQ",
        "text": "CDNL’s tracked loss widened 3.77 points to −14.39% on session 5; the quote fell 5.99% and sat 0.50% below VWAP, while time-adjusted activity was 0.71 and easing. The Oct. 19 amendment keeps Hughes Brothers at $357.5m, sets 60% cash and 40% stock, and permits up to $162.5m tied to future adjusted EBITDA; cash is expected to be funded by cash on hand and borrowings. Closing remains conditional, so target revenue and backlog are not yet CDNL contribution.",
        "price": 14.92,
        "pct": -14.39,
        "return_vs_entry_pct": -15.94,
        "return_vs_base_pct": -15.94,
        "return_vs_prior_pct": null,
        "previous_regular_close": null,
        "change_vs_prior_session_pct": -5.35,
        "session_day": 5,
        "reference_price": 17.75,
        "reference_text": "$14.92 · -15.94% from $17.75 base",
        "timing": "",
        "market_marker": null,
        "extended_hours": null,
        "relevant": true,
        "active_relevant": false,
        "terminal_closure": false,
        "transcript_anchor": "transcript-entry-01d7db1715d388fd81b73f2d1b7cf2a3c22bb7c393a956d75ada7eebb69cca1c",
        "price_as_of": "2026-10-20T19:32:17.054310Z",
        "vwap_as_of": null
      },
      {
        "day": 4,
        "timestamp": "2026-10-19T22:20:01.671950Z",
        "date": "Session 4 · Oct 19, 2026 · 18:20 NASDAQ",
        "text": "CDNL's tracked loss narrowed 0.56 points to 10.62% as shares surged 8.55%, held 1.74% above VWAP on 1.74 times normal volume, and added 2.33% after hours. Yet it remains 47.71 points behind Industrials over 20 sessions and below its .70 reference, so the rebound does not settle acquisition funding, closing conditions, or contribution.",
        "price": 15.87,
        "pct": -10.62,
        "return_vs_entry_pct": -10.59,
        "return_vs_base_pct": -10.59,
        "return_vs_prior_pct": null,
        "previous_regular_close": null,
        "change_vs_prior_session_pct": 0.96,
        "session_day": 4,
        "reference_price": 17.75,
        "reference_text": "$15.87 · -10.59% from $17.75 base",
        "timing": "",
        "market_marker": null,
        "extended_hours": null,
        "relevant": false,
        "active_relevant": false,
        "terminal_closure": false,
        "transcript_anchor": "",
        "price_as_of": "2026-10-19T20:49:36Z",
        "vwap_as_of": null
      },
      {
        "day": 4,
        "timestamp": "2026-10-19T20:01:59.526897Z",
        "date": "Session 4 · Oct 19, 2026 · 16:01 NASDAQ",
        "text": "CDNL's tracked loss narrowed 1.55 points to 11.18% as the quote rose 7.39% to $15.70, 1.75% above VWAP on 1.06 times normal volume. Yet the stock remains down 50% over 20 sessions, trails Industrials by 48.41 points and sits about 3.08 ATR below its 21-day average; the bounce does not establish acquisition terms or earnings contribution.",
        "price": 15.7,
        "pct": -11.18,
        "return_vs_entry_pct": -11.55,
        "return_vs_base_pct": -11.55,
        "return_vs_prior_pct": null,
        "previous_regular_close": null,
        "change_vs_prior_session_pct": 2.51,
        "session_day": 4,
        "reference_price": 17.75,
        "reference_text": "$15.70 · -11.55% from $17.75 base",
        "timing": "",
        "market_marker": null,
        "extended_hours": null,
        "relevant": false,
        "active_relevant": false,
        "terminal_closure": false,
        "transcript_anchor": "",
        "price_as_of": "2026-10-19T19:21:30.182691Z",
        "vwap_as_of": null
      },
      {
        "day": 4,
        "timestamp": "2026-10-19T14:38:12.389955Z",
        "date": "Session 4 · Oct 19, 2026 · 10:38 NASDAQ",
        "text": "CDNL's tracked loss has narrowed 4.93 percentage points from the last public update, and the early quote is up 4.34%, but volume is only 0.19 times its three-month average. The stock still trails Industrials by 49.81 points over 20 sessions, and the slight price relief has not produced evidence that Hughes Brothers is contributing earnings or cash.",
        "price": 15.255,
        "pct": -12.73,
        "return_vs_entry_pct": -14.06,
        "return_vs_base_pct": -14.06,
        "return_vs_prior_pct": null,
        "previous_regular_close": null,
        "change_vs_prior_session_pct": 3.57,
        "session_day": 4,
        "reference_price": 17.75,
        "reference_text": "$15.26 · -14.06% from $17.75 base",
        "timing": "",
        "market_marker": null,
        "extended_hours": null,
        "relevant": true,
        "active_relevant": false,
        "terminal_closure": false,
        "transcript_anchor": "transcript-entry-c554781f179b80ff39b9210cce5040bddb9b7b6d8bc1696ff98db8c27432d607",
        "price_as_of": "2026-10-19T14:06:23.984232Z",
        "vwap_as_of": null
      },
      {
        "day": 3,
        "timestamp": "2026-10-16T22:05:53.777985Z",
        "date": "Session 3 · Oct 16, 2026 · 18:05 NASDAQ",
        "text": "CDNL's tracked loss recovered 0.62 points to 17.66%, but the latest quote fell 8.17% on 3.77 times normal volume and remained 51.47 points behind Industrials over 20 sessions. The after-hours quote rebounded 2.67%, yet distribution and the steep relative gap show that the Hughes Brothers deal has not repaired the market case; its earnings and cash contribution remain unobserved.",
        "price": 14.62,
        "pct": -17.66,
        "return_vs_entry_pct": -17.63,
        "return_vs_base_pct": -17.63,
        "return_vs_prior_pct": null,
        "previous_regular_close": null,
        "change_vs_prior_session_pct": 0.96,
        "session_day": 3,
        "reference_price": 17.75,
        "reference_text": "$14.62 · -17.63% from $17.75 base",
        "timing": "",
        "market_marker": null,
        "extended_hours": null,
        "relevant": false,
        "active_relevant": false,
        "terminal_closure": false,
        "transcript_anchor": "",
        "price_as_of": "2026-10-16T20:31:27Z",
        "vwap_as_of": null
      },
      {
        "day": 3,
        "timestamp": "2026-10-16T19:43:22.587890Z",
        "date": "Session 3 · Oct 16, 2026 · 15:43 NASDAQ",
        "text": "CDNL tracked loss widened another 4.62 points to 18.28%; the latest capture fell 9.23%, sat 1.57% below the session average price weighted by volume near the lower end, and lagged SPY by 8.08 points. Its 20-session gap to Industrials is now 51.95 points. The Hughes Brothers transaction still has no observed earnings or cash contribution in this packet, so the damage deepens the market objection without proving the deal failed.",
        "price": 14.45,
        "pct": -18.28,
        "return_vs_entry_pct": -18.59,
        "return_vs_base_pct": -18.59,
        "return_vs_prior_pct": null,
        "previous_regular_close": null,
        "change_vs_prior_session_pct": -5.13,
        "session_day": 3,
        "reference_price": 17.75,
        "reference_text": "$14.45 · -18.59% from $17.75 base",
        "timing": "",
        "market_marker": null,
        "extended_hours": null,
        "relevant": true,
        "active_relevant": false,
        "terminal_closure": false,
        "transcript_anchor": "transcript-entry-846c83b1e47c6982c4da8033dd10fcec171f0e0782371e3116332fbdccd7863e",
        "price_as_of": "2026-10-16T19:21:22.647785Z",
        "vwap_as_of": null
      },
      {
        "day": 3,
        "timestamp": "2026-10-16T14:37:21.010485Z",
        "date": "Session 3 · Oct 16, 2026 · 10:37 NASDAQ",
        "text": "CDNL's tracked loss widened 3.32 points to 13.66% as the early quote fell 3.52%, sat 1.85% below its volume-weighted average price near the session low, and remained 50.1 points behind Industrials over 20 sessions. The early trading pace was only 0.54 of normal, so the capture offers little evidence of a turn. The Hughes Brothers deal still has no observed earnings or cash contribution, leaving a deeply weaker market case and unresolved transaction economics.",
        "price": 15.36,
        "pct": -13.66,
        "return_vs_entry_pct": -13.46,
        "return_vs_base_pct": -13.46,
        "return_vs_prior_pct": null,
        "previous_regular_close": null,
        "change_vs_prior_session_pct": -3.15,
        "session_day": 3,
        "reference_price": 17.75,
        "reference_text": "$15.36 · -13.46% from $17.75 base",
        "timing": "",
        "market_marker": null,
        "extended_hours": null,
        "relevant": true,
        "active_relevant": false,
        "terminal_closure": false,
        "transcript_anchor": "transcript-entry-1bf69dc5915be7e16da4bc6ca3e79d1bb02be61f11526e39d0d9873c899428a5",
        "price_as_of": "2026-10-16T14:06:07.820265Z",
        "vwap_as_of": null
      },
      {
        "day": 2,
        "timestamp": "2026-10-15T22:12:34.050630Z",
        "date": "Session 2 · Oct 15, 2026 · 18:12 NASDAQ",
        "text": "CDNL's tracked loss widened 0.46 percentage points to 10.34%, while the latest quote fell 3.28% on 2.03 times average volume. The shares remain well below the supplied moving-average trend, keeping the market read weak. The Hughes Brothers acquisition still lacks confirmed financing, closing terms, expected contribution and integration costs, so the reported transaction has not yet answered its core economic questions.",
        "price": 15.92,
        "pct": -10.34,
        "return_vs_entry_pct": -10.31,
        "return_vs_base_pct": -10.31,
        "return_vs_prior_pct": null,
        "previous_regular_close": null,
        "change_vs_prior_session_pct": -0.7,
        "session_day": 2,
        "reference_price": 17.75,
        "reference_text": "$15.92 · -10.31% from $17.75 base",
        "timing": "",
        "market_marker": null,
        "extended_hours": null,
        "relevant": false,
        "active_relevant": false,
        "terminal_closure": false,
        "transcript_anchor": "",
        "price_as_of": "2026-10-15T20:26:04Z",
        "vwap_as_of": null
      },
      {
        "day": 2,
        "timestamp": "2026-10-15T20:18:04.076416Z",
        "date": "Session 2 · Oct 15, 2026 · 16:18 NASDAQ",
        "text": "CDNL's tracked loss narrowed 0.43 points to 9.88%, but shares fell 2.52% and held only 0.03% above VWAP; the 20-session gap to Industrials remains a 48.82-point shortfall. The latest tape does not establish a rebound, and the acquisition case still lacks confirmed financing and integration economics.",
        "price": 16.045,
        "pct": -9.88,
        "return_vs_entry_pct": -9.61,
        "return_vs_base_pct": -9.61,
        "return_vs_prior_pct": null,
        "previous_regular_close": null,
        "change_vs_prior_session_pct": -0.15,
        "session_day": 2,
        "reference_price": 17.75,
        "reference_text": "$16.05 · -9.61% from $17.75 base",
        "timing": "",
        "market_marker": null,
        "extended_hours": null,
        "relevant": false,
        "active_relevant": false,
        "terminal_closure": false,
        "transcript_anchor": "",
        "price_as_of": "2026-10-15T19:21:33.629030Z",
        "vwap_as_of": null
      },
      {
        "day": 2,
        "timestamp": "2026-10-15T14:52:25.254895Z",
        "date": "Session 2 · Oct 15, 2026 · 10:52 NASDAQ",
        "text": "CDNL's tracked loss widened 3.02 points to 10.31% as shares fell 2.37% in the early capture, just 0.12% above VWAP near midrange, and lagged SPY by 2.04 points. The 20-session gap to Industrials remains 47.25 points; no realized earnings or cash contribution from the Hughes Brothers acquisition is established, while the broad model range leaves the path unresolved.",
        "price": 16.07,
        "pct": -10.31,
        "return_vs_entry_pct": -9.46,
        "return_vs_base_pct": -9.46,
        "return_vs_prior_pct": null,
        "previous_regular_close": null,
        "change_vs_prior_session_pct": -2.19,
        "session_day": 2,
        "reference_price": 17.75,
        "reference_text": "$16.07 · -9.46% from $17.75 base",
        "timing": "",
        "market_marker": null,
        "extended_hours": null,
        "relevant": true,
        "active_relevant": false,
        "terminal_closure": false,
        "transcript_anchor": "transcript-entry-9c70cc5d7cafe08ba8cf18c496730ab7852b11073b2f3c0236903b1d77e6b698",
        "price_as_of": "2026-10-15T14:06:44.673876Z",
        "vwap_as_of": null
      },
      {
        "day": 1,
        "timestamp": "2026-10-14T21:46:12.758362Z",
        "date": "Session 1 · Oct 14, 2026 · 17:46 NASDAQ",
        "text": "CDNL tracked loss narrowed 0.93 point to 7.29%; shares fell 11.60% in the regular session but rose 0.58% after hours, ending 2.43% above VWAP. The 20-session lag versus Industrials remains 48.25 points. The supplied evidence still shows no realized earnings or cash contribution from the Hughes Brothers acquisition, so the late rebound does not establish market acceptance or transaction performance.",
        "price": 16.46,
        "pct": -7.29,
        "return_vs_entry_pct": -7.27,
        "return_vs_base_pct": -7.27,
        "return_vs_prior_pct": null,
        "previous_regular_close": null,
        "change_vs_prior_session_pct": 0.56,
        "session_day": 1,
        "reference_price": 17.75,
        "reference_text": "$16.46 · -7.27% from $17.75 base",
        "timing": "",
        "market_marker": null,
        "extended_hours": null,
        "relevant": false,
        "active_relevant": false,
        "terminal_closure": false,
        "transcript_anchor": "",
        "price_as_of": "2026-10-14T20:43:59Z",
        "vwap_as_of": null
      },
      {
        "day": 1,
        "timestamp": "2026-10-14T20:10:30.942466Z",
        "date": "Session 1 · Oct 14, 2026 · 16:10 NASDAQ",
        "text": "Since the previous note, CDNL's tracked loss narrowed 4.34 points to 8.22%, yet the latest capture was still down 12.14% for the session while 1.8% above VWAP. The 20-session lag versus XLI remains 48.52 points, and this packet shows no realized earnings or cash contribution from the Hughes Brothers acquisition. The rebound improves the immediate snapshot but does not establish market acceptance or transaction performance.",
        "price": 16.36,
        "pct": -8.22,
        "return_vs_entry_pct": -7.83,
        "return_vs_base_pct": -7.83,
        "return_vs_prior_pct": null,
        "previous_regular_close": null,
        "change_vs_prior_session_pct": 4.42,
        "session_day": 1,
        "reference_price": 17.75,
        "reference_text": "$16.36 · -7.83% from $17.75 base",
        "timing": "",
        "market_marker": null,
        "extended_hours": null,
        "relevant": true,
        "active_relevant": false,
        "terminal_closure": false,
        "transcript_anchor": "transcript-entry-4c490826937a307772f821bcb64395024e57bdcc1e0defccd28f24d563fc0877",
        "price_as_of": "2026-10-14T19:41:13.876792Z",
        "vwap_as_of": null
      },
      {
        "day": 1,
        "timestamp": "2026-10-14T14:36:22.665605Z",
        "date": "Session 1 · Oct 14, 2026 · 10:36 NASDAQ",
        "text": "CDNL's tracked return swung 17.43 points from +4.87% to -12.56% as shares fell 16.35% at the capture, traded 3.74% below the session average near the low on about three times the normal early-session pace, and underperformed SPY by 15.71 points. The financing and earnout terms are clearer, but no realized earnings or cash contribution is shown; the near-even, very wide model range cannot explain the collapse or establish recovery.",
        "price": 15.575,
        "pct": -12.56,
        "return_vs_entry_pct": -12.25,
        "return_vs_base_pct": -12.25,
        "return_vs_prior_pct": null,
        "previous_regular_close": null,
        "change_vs_prior_session_pct": -17.15,
        "session_day": 1,
        "reference_price": 17.75,
        "reference_text": "$15.57 · -12.25% from $17.75 base",
        "timing": "",
        "market_marker": null,
        "extended_hours": null,
        "relevant": true,
        "active_relevant": false,
        "terminal_closure": false,
        "transcript_anchor": "transcript-entry-8864f38a16d3bf4c4199238cfe4156cb8367f818b71b117ea0f124196acf6aa7",
        "price_as_of": "2026-10-14T14:06:37.850462Z",
        "vwap_as_of": null
      },
      {
        "day": 0,
        "timestamp": "2026-10-13T21:51:42.733981Z",
        "date": "Session 0 · Oct 13, 2026 · 17:51 NASDAQ",
        "text": "CDNL's tracked gain increased 1.77 percentage points to 4.87% from the initial public baseline even as shares fell 10.99% near the lower third on dollar turnover 1.78 times average; price remained 1.69% above VWAP. Its 20-session performance trails Industrials by 44.65 points. The disclosed Hughes Brothers financing and earnout terms clarify the transaction, but today's heavy decline and absent evidence of earnings or cash contribution leave market acceptance unconfirmed.",
        "price": 18.62,
        "pct": 4.87,
        "return_vs_entry_pct": 4.9,
        "return_vs_base_pct": 4.9,
        "return_vs_prior_pct": null,
        "previous_regular_close": null,
        "change_vs_prior_session_pct": 1.38,
        "session_day": 0,
        "reference_price": 17.75,
        "reference_text": "$18.62 · +4.90% from $17.75 base",
        "timing": "",
        "market_marker": {
          "phase": "post",
          "text": "Aftermarket update: $18.50 (-0.64% vs regular close) · Oct 13, 2026 · 17:27 NASDAQ"
        },
        "extended_hours": {
          "phase": "post",
          "price": 18.5,
          "ext_pct": -0.64,
          "as_of": "2026-10-13T21:27:21Z",
          "persisted": false
        },
        "relevant": false,
        "active_relevant": false,
        "terminal_closure": false,
        "transcript_anchor": "",
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      {
        "day": 0,
        "timestamp": "2026-10-13T19:51:03.003920Z",
        "date": "Session 0 · Oct 13, 2026 · 15:51 NASDAQ",
        "text": "Cardinal’s release clarifies the Hughes Brothers deal: a $357.5 million purchase funded with at least 40% in stock, $156 million of new debt plus cash, and up to $97.5 million in earnout tied to 2026 adjusted EBITDA. Closing is targeted for Q4, subject to approvals; the company estimates post-close net leverage near 1.4 times. CDNL is down 12.17% today on 2.25 times average volume, near the lower third of its range, while the tracked return remains +3.1% from the initial reference. The terms are clearer, but today’s reaction shows no market acceptance.",
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        "return": -7.29,
        "reference_text": "-7.29% from $17.75 base",
        "price": 16.46,
        "updated": "Oct 14, 2026 · 17:05 NASDAQ",
        "mfe": 0.65,
        "mae": -13.21
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      {
        "label": "+5 sessions",
        "status": "complete",
        "return": -14.39,
        "reference_text": "-14.39% from $17.75 base",
        "price": 15.2,
        "updated": "Oct 20, 2026 · 17:17 NASDAQ",
        "mfe": 1.38,
        "mae": -20.64
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      {
        "label": "+10 sessions",
        "status": "pending",
        "return": null,
        "reference_text": "",
        "price": null,
        "updated": "",
        "mfe": null,
        "mae": null
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        "label": "+15 sessions",
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        "reference_text": "",
        "price": null,
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        "mae": null
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              "facts": [
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              "vwap_state": "below",
              "selection_as_of": "2026-10-13T17:13:26Z",
              "facts": [
                "The company reported that Texans Credit Union grew active digital-banking users by 42%.",
                "The release supplies no user denominator, contract economics, or revenue contribution; the captured daily change was -0.78% and the intraday observation was below VWAP."
              ],
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      },
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              "facts": [
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              "vwap_state": "below",
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              "facts": [
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                "The company reported that Texans Credit Union grew active digital-banking users by 42%.",
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              "as_of": "2026-10-19T19:21:30.182691Z",
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                "Over 20 sessions, CDNL returned -47.27% versus -0.80% for XLI, an excess return of -46.47 percentage points."
              ],
              "price_as_of": "2026-10-19T19:21:30.182691Z",
              "vwap_as_of": null
            },
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              "vwap_distance_pct": -2.0672,
              "position_52w_pct": 12.3,
              "extended_hours_pct": null,
              "as_of": "2026-10-13T21:20:47Z",
              "source": "yfinance_quote",
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              "vwap_state": "above",
              "selection_as_of": "2026-10-13T15:29:52.219129Z",
              "facts": [
                "The packet reports AMD-related credit support for Project Matador.",
                "The amount and binding conditions are not supplied; the information assessment has no matched issuer records."
              ],
              "price_as_of": "2026-10-13T21:20:47Z",
              "vwap_as_of": null
            },
            {
              "symbol": "VIAV",
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              "base_price": 40.49,
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              "extended_hours_pct": null,
              "as_of": "2026-10-13T20:57:45Z",
              "source": "yfinance_quote",
              "name": "Viavi Solutions Inc.",
              "episode_id": "narrative:VIAV:c96a141955f1049a",
              "ema_trend": "43.27 > 41.82 > 40.48",
              "vwap_state": "above",
              "selection_as_of": "2026-10-13T17:14:10Z",
              "facts": [
                "The company reported a US Army selection for range modernization.",
                "The packet does not provide funded scope, contract value, timing, or expected revenue."
              ],
              "price_as_of": "2026-10-13T20:57:45Z",
              "vwap_as_of": null
            },
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              "position_52w_pct": 50.62,
              "extended_hours_pct": null,
              "as_of": "2026-10-13T21:08:59Z",
              "source": "yfinance_quote",
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              "vwap_state": "below",
              "selection_as_of": "2026-10-13T17:13:52Z",
              "facts": [
                "The packet describes project and permitting progress and the appointment of GenCap as project-financing adviser.",
                "The captured daily change was -3.71%; the observation was below VWAP and near the bottom of its range. No funding commitment is supplied."
              ],
              "price_as_of": "2026-10-13T21:08:59Z",
              "vwap_as_of": null
            },
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              "symbol": "ALKT",
              "role": "alternative",
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              "extended_hours_pct": null,
              "as_of": "2026-10-13T20:01:06Z",
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              "vwap_state": "below",
              "selection_as_of": "2026-10-13T17:13:26Z",
              "facts": [
                "The company reported that Texans Credit Union grew active digital-banking users by 42%.",
                "The release supplies no user denominator, contract economics, or revenue contribution; the captured daily change was -0.78% and the intraday observation was below VWAP."
              ],
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              "vwap_as_of": null
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            "candidate_technical": 5,
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        }
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        "day": 4,
        "timestamp": "2026-10-19T22:20:01.671950Z",
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              "facts": [
                "The sealed packet reports a $357.5 million acquisition of Hughes Brothers.",
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                "Over 20 sessions, CDNL returned -47.27% versus -0.80% for XLI, an excess return of -46.47 percentage points."
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                "The packet reports AMD-related credit support for Project Matador.",
                "The amount and binding conditions are not supplied; the information assessment has no matched issuer records."
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                "russell2000": 1.6271
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                "The company reported a US Army selection for range modernization.",
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              "selection_as_of": "2026-10-13T17:13:52Z",
              "facts": [
                "The packet describes project and permitting progress and the appointment of GenCap as project-financing adviser.",
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              "selection_as_of": "2026-10-13T17:13:26Z",
              "facts": [
                "The company reported that Texans Credit Union grew active digital-banking users by 42%.",
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              "return_since_base_pct": 0.4085,
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              "session_return_pct": 1.171,
              "as_of": "2026-10-19T22:19:22.795748Z",
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        "timestamp": "2026-10-20T21:18:11.106939Z",
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              ],
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              "vwap_state": "below",
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              "facts": [
                "The company reported that Texans Credit Union grew active digital-banking users by 42%.",
                "The release supplies no user denominator, contract economics, or revenue contribution; the captured daily change was -0.78% and the intraday observation was below VWAP."
              ],
              "price_as_of": "2026-10-13T20:01:06Z",
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              "vwap_state": "above",
              "selection_as_of": "2026-10-13T15:29:52.219129Z",
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                "The amount and binding conditions are not supplied; the information assessment has no matched issuer records."
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              "session_return_pct": null,
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              "rsi": 59.02,
              "vwap": 40.15,
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              "extended_hours_pct": null,
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              "source": "yfinance_quote",
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              "vwap_state": "above",
              "selection_as_of": "2026-10-13T17:14:10Z",
              "facts": [
                "The company reported a US Army selection for range modernization.",
                "The packet does not provide funded scope, contract value, timing, or expected revenue."
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              "facts": [
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                "The release supplies no user denominator, contract economics, or revenue contribution; the captured daily change was -0.78% and the intraday observation was below VWAP."
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                "The company reported that Texans Credit Union grew active digital-banking users by 42%.",
                "The release supplies no user denominator, contract economics, or revenue contribution; the captured daily change was -0.78% and the intraday observation was below VWAP."
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              "role": "selected",
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              "base_price": 17.755,
              "return_since_base_pct": -20.3605,
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              "rsi": 9.51,
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              "as_of": "2026-10-23T19:22:12.987963Z",
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