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This is nonsense, overall healthcare (including Eli Lilly) stock selloffs started before the tweet.
by sekai 4y ago
This is nonsense, overall healthcare (including Eli Lilly) stock selloffs started before the tweet.
- cypress66 4y agoPeople and the media love these stories of "X company stock fell by Y because of Z". Most of the time it is either extremely exaggerated or outright false.
- kennend3 4y agoThis! The "taking heads" always want to find some sort of causation/correlation and often it is just absolute garbage. One day they may make a statement like : "Stocks tumble on Ukraine updates" The very next day : "Stocks rally on Ukraine updates". They just look for any "news" to try to show they understand the interconnected nature of news and markets. Often they are just grasping at straws. Here's the thing.. If they could actually do what they say they are doing, hedge funds would be snapping them up and paying them far more.
- ganeshkrishnan 4y agoOne of my quote(which I developed after trading options for a year) I like to reuse is: News doesn't move the stocks. Stocks moves the news. When CPI went sky high few months back and the stock market still rallied the news was "S&P rallies while investors digest CPI information". Like, what is this even supposed to mean?
- zone411 4y agoNot to mention that this tweet was posted on Thursday and the stock didn't bounce back quickly as it would once it was obvious it was a fake (and that would be almost instantly). Just a bunch of people with a confirmation bias who want to believe on Twitter, Reddit, and HN with little trading knowledge upvoting this stuff.
- refurb 4y agoBut it gets clicks! And that's what important to the media.
- matsemann 4y agoCould you provide a better reasoning than the one proposed, though?