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I have used below code to show a scrolling text in a content editor web part on my home page in SPO team site. [ very similar to marquee tag. We can't use marquee as W3C standards doesn't support!]

     <p><b id='banner'></b></p>
      <script>
     var newBanner=0;
     function runOnLoad(){
        var bannerImg = new Array();
            var bannerLink = new Array();
      var herelink="http://google.com";
     var linktext= "here";
         bannerImg[0]="welcome1";
     bannerImg[1]="Welcome2  Click " + 
         linktext.link('https://https://twitter.com/sundarpichai
               ') + " to know more abt Sundar";
           var totalBan = bannerImg.length;

     newBanner++;
                if (newBanner == totalBan)
                 {
                   newBanner = 0;
                  }
        document.getElementById('banner').innerHTML="<Span style
                   ='font-weight: bold; 
        font-family:arial;font-size:22pt;'>"+bannerImg[newBanner]+"</span>";
            setTimeout("runOnLoad()", 4*1000);
      }
        _spBodyOnLoadFunctionNames.push("runOnLoad");
          </script>

but i am not getting how to make this scrolling text,on a vertical manner.

Also would like to know how to read from an announcements list, if my scrolling text is dynamic.[Currently its set as Static text].

Also if there exist,any other free jQuery plugins,I can use it for scrolling text?.

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To read from the Announcements list, you can use SharePoint API REST with JavaScript like this:

$.ajax({
    url:_spPageContextInfo.webAbsoluteUrl+"/_api/web/lists/getByTitle('Announcements')/items",
    method: "GET",
    headers: { "Accept": "application/json; odata=verbose" },
    success: function (data) {
        if (data.d.results.length > 0 ) {
            //results
        }       
    },
    error: function (data) {
        alert("Error: " + data);
    }
});

For the vertically scrolling text, you have some jQuery plugins in order to achieve that:

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