Agreed that a 3% sell-the-news drop is minor. But worth noting, in an era of higher inflation and stock buybacks, that probably the relevant metric for investo

Agreed that a 3% sell-the-news drop is minor. But worth noting, in an era of higher inflation and stock buybacks, that probably the relevant metric for investor happiness is real enterprise value (that is, discount market cap by net cash, then adjust for inflation). By that measure they’re pretty far from the pandemic peak.