I mean, even if none of that were true, the valuation would still make absolutely no sense. If you, as an investor, have decided to make an investment that make

I mean, even if none of that were true, the valuation would still make absolutely no sense. If you, as an investor, have decided to make an investment that makes no sense at all based on the fundamentals, why would you turn around and go "the fundamentals I was previously ignoring have gotten somewhat worse, I should sell this"? (Interestingly, people _do_ do this to _some_ extent, though. Notably, Trump's joke of a social media company took a significant temporary hit on releasing bad financials, even though of course the financials are completely irrelevant to the valuation; it has revenue of less than a million per quarter and a market cap of over five billion.)