Oreilly auto parts stock market

As news broke this week that TV anchor Bill O'Reilly would be leaving Fox News , investors observed a reaction in the stock market that few could make sense of: The stock of the company that owns O'Reilly Auto Parts suddenly rose, even while the rest of the market was falling.

O'Reilly Automotive orly , a Fortune company that sells car accessories and tools, has no relation to the host of Fox's now-canceled O'Reilly Factor.

O’Reilly Automotive Leaves Tradition In The Dust | Stock News & Stock Market Analysis - IBD

But without any other news that day to explain the move in the retailer's stock price, some investors had a different theory: Computerized algorithms that trade stocks based on Twitter and social media alone had picked up on a surge in posts about Bill O'Reilly, and interpreted it as a signal to buy O'Reilly stock.

This effect, of course, would be considered a glitch, illustrating the flaws in the nascent but increasingly popular field of so-called social sentiment-based investing. For more on that trend, read my Fortune Magazine feature, " Investors Are Using Social Media to Make Money.

Quant trader Michael Harris summed up the incident in the headline of a blog post about the incident: This is how dumb your social media algos are: Cuz if it is I'm just going back to bed Given the way repeated mentions of "O'Reilly" might make O'Reilly Auto Parts' familiar jingle stick in your head "Oh, oh, oh, O'Reillyyy" , it's not hard to see how computer algorithms might get mixed up.

Even Google , which tracks trends in its online searches, suggests "Bill O'Reilly" as the top related query for those searching "O'Reilly Automotive.

After all, it would hardly be the first time that a Twitter-based trading algorithm got tricked into buying the wrong stock. Quants love to tell the story, now legendary among sentiment traders, of an early experiment in social media trading gone awry: Trawling the Twitterverse, algorithms had picked up on a flurry of tweets about the Devil Wears Prada actress Anne Hathaway.

Misinterpreting the chatter, computers using the algorithm bought stock in Berkshire Hathaway brk. Another time, a hedge fund's algorithm correctly identified the company, but confused the sentiment, when it bought up shares in Lululemon lulu based on tweets about its too-sheer pants.

Those pants became a disaster for the company that ended up tanking its stock price, burning the traders who bought shares. Still, it's not quite clear if, or to what extent, the Bill O'Reilly tweets triggered the buying of O'Reilly Automotive stock.

After all, some social media-based algorithms distinguished between the auto parts company and irrelevant chatter and therefore didn't fall for the ruse. O'Reilly Automotive stock eventually gave back some of its gains for the day, but still finished Wednesday up 1. Meanwhile, shares of 21st Century Fox foxa , which owns Fox News, were barely impacted, falling 0.

O'Reilly was up about 4. Another potential explanation for the move in O'Reilly stock: General investor speculation that auto parts retailers haven't lost as much business to Amazon amzn as initially feared, Gits says.

ORLY stock quote - O'Reilly Automotive, Inc. Common Stock price - ditycapylal.web.fc2.com

Not everyone is buying the more mundane version of what happened. What are the risks from dumb algos taking over Wall Street? Ivanka Trump Ivanka Trump and Marco Rubio Had Some Fun With Their Failed Hug.

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