With the elevation of competitiveness in the market, traders now require more than just fundamental or historical data to maintain an edge over the rest of the participants. Public.com perfectly understands the traders’ newly risen expectations and caters to them by incorporating the Benzinga Why Is It Moving (WIIM) API into their platform. Through this seamless integration, Public.com now provides up-to-date and insightful data on the reason behind a stock’s price movement to its users. 

In this blog post, we will explore how exactly Public.com utilizes the Benzinga WIIM API in its offerings, ultimately boosting user experience and providing crucial information for effective decision-making.

Understanding the Benzinga WIIM API

Benzinga’s WIIM API is an incredibly helpful source of alternative data that gives users real-time information on why the stock is moving in a specific direction. Such data proves to be very useful when traditional data becomes obsolete during the process. 

In many instances, traders need more than just data on a stock’s price movement; they want to understand the reasons behind those movements. Benzinga’s WIIM API excels in capturing and delivering this crucial information. This data proves invaluable in confusing situations, helping traders answer the pressing question of what’s really happening.

The result obtained using the Benzinga WIIM API consists of the following fields:

• ID: The unique identifier for the output.
• title: The title of the article.
• published-date: The timestamp when the article was created, in HH:MM:SS format.
• updated-date: The timestamp of the last update to the article, in HH:MM:SS format.
• tickers: The stock symbols (tickers) of the companies mentioned in the article.
• tags: Any additional tags flagged by the editorial team for internal use.
• channels: A list of channel taggings, categorized by specific news channels.
• body: The main content of the article (left blank if it’s a headline only).

Public.com’s Integration of the API

Public.com leverages eye-catching visuals to effectively showcase the data extracted and takes a prominent place in the platform’s interface for easy accessibility. 

As it can be seen, Public.com strategically utilizes the Benzinga WIIM API by employing an intricately designed chart along with a dialog box for effectively communicating the reasoning behind the stock’s price movement. The visuals illustrate the following insights skillfully:

1. Price Direction: The interactive line chart is concerned with presenting the real-time price of the stock. As shown in the image, the MRIN is trading at $0.75 with a bullish trend. 

2. Price Movement Reasoning: The dialog box placed right below the line chart conveys the reason behind the stock’s current price movement. With the help of icons and concise information, users can gain a lot of knowledge just at a glance.

How to use the API to extract data with Python

The Benzinga WIIM API can be easily accessed through Benzinga’s official Python library which allows for seamless interaction with their APIs. Before proceeding to extracting data, it’s essential to import the necessary modules into our Python environment.

  from benzinga import news_data
  import pandas as pd

Now we can comfortably extract the data using the following code:

  api_key = "YOUR API KEY"
  fin = financial_data.News(api_key)
 aapl_news = fin.news(company_tickers = 'AAPL', date_from = '2024-05-01', date_to = '2024-05-30')
  news_df = pd.DataFrame(aapl_news)

The first two lines are concerned with activating the API key. Make sure to replace “YOUR API KEY” with your secret Benzinga API key which you can obtain once you create a Benzinga developer account.

Then comes the actual extraction part where we are using the “news” function provided by the “benzinga” library to get the financial news data of Apple from the start to the end of May 2024. The function takes the following as parameters:

1. date_from: The starting date of the data
2. date_to: The ending date of the data
3. company_tickers: The list of stocks we’re interested in getting the data of.

Apart from these, there are some additional parameters but those are not in the scope of this article. Finally, we are converting the JSON response into a Pandas dataframe making it easier to work with.

From the steps discussed above, it’s clear that the Benzinga WIIM API is easy to work with and can be feasibly integrated with any application. Due to this specific characteristic, big players like Public.com rely on the API to power their platforms with unique and critical trading information. 

Conclusion

Public.com’s integration of the Benzinga WIIM API underscores its commitment to delivering robust and comprehensive alternative data. This seamless incorporation delivers numerous advantages:

• Effective Visuals: Easy-to-understand charts and graphs illustrate the reasoning behind a stock’s price movement, aiding users in making well-informed decisions.
• Real-Time Data: The API ensures that users have access to the latest information, allowing them to react promptly to market changes.
• Intuitive Interface: Designed to be accessible to investors of all skill levels, regardless of technical expertise.

Through the adoption of Benzinga’s Why Is It Moving API, Public.com continues to advance its platform, ensuring that critical information is readily available and empowering users to make confident, informed investment decisions.