On November 11, 2021, ‘Seohakgaemi- Bot,’ an AI stock market reporter provided by Waiker to Chosun Ilbo, made a groundbreaking report of Elon Musk’s sale of Tesla shares. Becoming the first to headline ahead of other media and newspapers.
Seohakgaemi-Bot released the news under the headline ‘Elon Musk Sells $4.6022T KRW Worth of Tesla Stocks through Trust Agreement’ at 8:25 AM KST. This was the fastest global report, even outpacing Bloomberg in the US by approximately 20 minutes. During those 20 minutes, Tesla’s stock price fell by about 2.5%.
Due to Elon Musk’s poll conducted on this personal Twitter account whether he should sell his shares of 10%, his actions were one of the major topics among US stock investors. The poll eventually garnered a majority of votes in favor of the sale, indicating investor support for the proposed transaction.
Seohakgaemi-bot is an AI-powered stock market news article service developed through a collaboration between Chosunilbo and a Waiker. It is designed to provide real-time news articles related to U.S. stock market information and is tailored specifically for individual investors in South Korea who invest in overseas stocks. It instantly captures the key information within the report from SEC filings, transforming them into news articles in just 8 seconds.
Unlike in domestic markets, U.S. listed companies’ filings are not standardized. Even for similar types of filings, each company prefers its own format, making it time-consuming for financial professionals to extract key information. However, Waiker utilizes natural language processing and AI technologies to extract and summarize the essential information from such complex filings. This enables rapid reporting, unlike traditional media outlets that rely on manual verification.
With the breaking news of Elon Musk’s stake sale, Waiker has proven the accuracy and timeliness of its AI technology, garnering significant attention from prestigious domestic and international media outlets as well as the overall financial industry.
Following the stake sale, Elon Musk currently holds approximately 1,220,481 common shares, which represents approximately 0.12% of Tesla’s total stake, excluding stock options.
