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Aren't rando outsiders effectively "The Market"? Appealing to the authority of "The Market", as if it is this great metric of truth, while it currently runs aro
by Klinky 6y ago
Aren't rando outsiders effectively "The Market"? Appealing to the authority of "The Market", as if it is this great metric of truth, while it currently runs around like a chicken with its head cut off, is not the best argument.
Shares surging by 9% on a vague promise to be profitable in 2 years time sounds like bandwagon behavior. Simple "Good News - Buy, Bad News - Sell" signalling. This is also "Adjusted EBITDA profitability", which is squirrelly, and 2021 means "Q4 of 2021". With recent events, it also seems less likely "The Market" was accurate in its assessment. Honestly that may not be entirely fair given the unprecedented nature, but isn't "The Market" supposed to factor in long-term threats, instead of short-sighted potential profitability proposals? If we were listening to the markets over the last few weeks, the world was either ending or the economy was booming and "nothing was wrong", all depending on what day of the week it was. Lots of sage wisdom being gained there.