Abstract
In 2014, Associated Press (AP) launched a "Robo-journalism" scheme to generate automated financial reports with public financial information. I exploit this natural experiment to examine the effect dissemination of public information on financial market with a generalized difference-in-difference approach. I find that reporting easy-to-read corporate public information for retail investors has real effect. On one hand, media visibility and liquidity of the automated reported stocks increase. On the other hand, stock prices exhibit more comovement, which indicates that relatively more market-wide and industry level information compared to firm-specific information is capitalized into stock prices after the automation.