3 ms·
Makes sense. And that is what I meant—it’s just strange to see material information not getting priced in within milliseconds.
by egdod 7y ago
Makes sense. And that is what I meant—it’s just strange to see material information not getting priced in within milliseconds.
- perl4ever 7y agoPeople go around affirming how this happens, but I don't think very many people go out and try to determine through observation whether it's true. I noticed a stock was up ~60% one morning not too long ago, and when I looked for news, it turned out that they just had their drug approved by the FDA. But it continued to rise throughout the day, and eventually leveled off at about triple what it had been the previous day. The approval of a drug is about as clean and discrete a piece of market moving information as you can get, and yet anyone who could put it in context had hours to buy. That shouldn't make people go "oh, there are always exceptions", but "hmm, maybe a fundamental assumption somewhere is wrong". I mean, presumably people are using ML and inside information to the hilt, as much as they can, in today's market. But the consequences aren't what people think.
- egdod 7y agoThat’s interesting. What company?