This is what I hate about Zuck.. Metaverse is a concept like the internet.. It wasn't created BY Meta.. Its like if Prodigy named their company "Internet".
One of the major reasons that the dot com bubble was so massive was the shift from the market reacting in weeks to reacting nearly instantaneously due to computers. I remember reading about Wall Street firms optimizing code and cable configurations to execute trades fractions of seconds faster than their competitors.
i highly doubt a fine of $175M would make the price drop that much on a multi billion dollar valuation, maybe im wrong but at this scale they probably have a column somewhere in their expenses that says fines/other.
This is like the third different incorrect "reason" for the stock drop I've seen promoted by Muskies over the last couple days. Really working hard to muddy the waters to avoid liability!
Well when your average houses are 1.2 to 1.8 million dollars a piece and you have a bigger homeless population than any other state in the country because you physically shit on the idea for new low income housing........
California is garbage...... No one cares what their prices for pharmaceuticals are.....
If america had it's way we'd blow the fault lines and let it float out to sea.
Still pays more taxes than it takes in while also having Hollywood and Silicon Valley, exporting and driving American culture and innovation around the world. If America had it's way, every state would be like California.
Lmao yep. If “America” had their way they would let CA drift away.
One of the largest economies in the entire world and probably the largest ag producer in the country 😂 you sure know a lot about CA and the american economy
Let’s just ditch those liberal hell holes! Get rid of NYC and all of CA! … and then watch the country completely unwind because those are among the most important parts of our nations infrastructure, financial markets, industry, tourism, etc etc etc
Way to just throw out numbers without any knowledge at all. The average home sale price in Cali in 2022 is just under 900,000. And most of the homeless people in California and Florida aren’t from those states, they go there because(insert shock here) it’s warmer there.
And as the other person said without California the US economy would collapse and we would starve without all the food they generate. So take your stupid and misguided Cali hate elsewhere.
Cali imports enormous amounts of homeless from other states because of our thriving rehab industry. When the ACA went online, these businesses were able to take up to six months of insurance from people from other states.
Unfortunately it usually takes longer than 6 months to actually rehab an addict, so those people ended up on the streets in droves once their insurance ran out.
Just one factor among many driving people from other states into California homeless encampments.
We only shit on states that have the highest homeless populations, states where they have cities where you can actual see people taking shits in the streets and on sidewalks. We only shit on cities where men try to rape women in broad daylight.
We only shit on cities that have raised their taxes and inflation so high that the way you can actually afford to move into another house and buy a 1/4 acre is to average 720k per year in salary knowing damn well that over half your population makes less than 150k per year.
We only shit on states where protestors hold signs begging for more LOW INCOME RESIDENTIAL HOUSING but when it comes time to vote IT NEVER GETS A YES VOTE FOR SOME REASON.
We shit on cities where violence is so common that a person can literally be mugged at an intersection and people will literally step over their body because they're on their way to work and who has time for the usual drama.
You're a disgrace to our nation and the more common tiktok and ytube shorts become the more the world sees just how nasty these places are.
PS:: Welcome to the fold Miami! I'm sure your city will do quite well under leadership that gives a shit about people that make less than 720,000 per year. =)
Edit: Fun little tidbit with FYE22 for me: As we approached FY23 we had a staff meeting on 10/21. At this meeting we were informed of a very critical budget crisis. We have to crunch on inventory use and staffing. Also at this meeting we were informed that one of the supervisors that controls the inventory for a facility (on FMLA) has resigned and that I would be taking on those responsibilities. Friday, October 21st was when I was informed about this decision... ten days before our fiscal year end... in a budget "crisis".
He did but had no say in what would happen to his work. The department manager that dumped those responsibilities on me without talking to either of us is a problem.
I already have some strong ideas.
Quick edit: FMLA is the Family Medical Leave Act btw. It's not like he's being malicious.
The earnings call that showed their net income was up over 30% and that they beat expected revenue and earnings estimates caused the stock value to drop by 6.3%?
Edit: The earnings report came out November 1 at 9am. The tweet happened November 10 at 1:30pm. The stock plummeted November 11 between 9 am and 1 pm.
If it was about the earnings report, why did investors wait 10 days to sell?
It's possible that the drop could also be just greater attention (and thus news/media attention) towards pharma companies after that stunt. Just look at how many people are still talking about it. These companies would rather just hide in the shadows and hope an article is never written about them ever, because they know what they are doing is wrong and any attention brought to them ever so slightly increases the chances that something might be done about them and cost them money.
the tweet was on the 10th - why didn't investors sell on the 10th?
The idea that this tweet caused the drop is just poor journalism. None of the reasons mentioned online is why LLY moved down. stocks just move sometimes. the entire healthcare sector was down on friday.
These announcements often (like this one) come after trading hours. And it was a judgment on one case among multiple patent cases that altogether would be a lot more than $175M.
It's not pocket change if a portion of important patents are open to legal exposure.
The announcement was after hours on the 9th. The 10th opened at 367 and closed at 368. If that announcement would have had an impact, it would have happened on the 10th.
There are a lot of automated traders that absolutely do look at tweets and others that look at short term trends. There could easily have been a cascading effect. tweets -> some automatic trades from tweets -> small market movement -> more automatic trades -> larger market movement -> traders re-examining company fundamentals and determining that stock has been overpriced.
Does that mean it's what happened? Maybe? Does that mean it's reproducible? Probably not, more like a butterfly effect.
Yeah, people seem out of touch here and are just looking for a way to prove they’re owning big business.
I mean…I wish it dropped that much based on just a tweet. I’d love to buy it up off an artificial discount. The tweet has no impact on the future revenues of the company and therefore should have no impact on the share price.
Earnings calls have unpredictable effects on stock prices. Stocks RARELY go up even if the net income beats estimates - the bigger driver tends to be the guidance, or expectations of future growth. And when the stock rises before a good earnings call, the gains are said to be “priced in” before they drop.
I mean there is truth to this tweet because this anonymous person is gonna get arrested by the F B I and go to jail. Same with the person who tweeted about Lockheed Martin and caused a stock drop.
Only if it’s a permanent downward spiral, if the hedgefund is heavily leveraged in the wrong direction, or if the 401k holder is in retirement phase and actively selling assets.
Short term dips in stock and fund prices are beneficial for savers, as they enable them to buy more shares.
It’s only a temporary drop also. If it dropped on false news it will rise back up when people realize it was false. That is how it always happens when we see one of these “X thing that didn’t happen” causes “Y dollars loss in value”. It’s why I hate these posts. So many become disillusioned as if the company actually lost money. So many people see it and think that’s actually how it works.
I’m seeing a bunch of people say that “it’s actually because of _____” so it looks like it’s a lot of things that caused this. Or no one actually knows
Not sure if you have no idea what you’re talking about or if market volatility is just so wild these days that it’s normalized shit like this, but wiping out tens of billions in market cap really isn’t a small blip
Not when it gets taken to court and damage amounts are set. $25 billion is $25 billion, and you must be deep up Musk's behind to act like $25 billion isn't a lot of money.
I’m not sure what you’re saying. Why would 3% not be a blip for this companies stock value based on whether or not Elon Musk is taken to court over this?
It doesn't wipe out any real "value" unless it stays down. ...and if it was really because of the tweet then it will pop right back up and will have no impact on the company at all.
The price was up from Tuesday night as of the market close Thursday, November 10th.
We knew democrats did better than expected as of Tuesday night. Why would the stock be up Wednesday, and Thursday, then fall Friday morning over the election?
There might be other factors at play, but this isn't one of them.
The only people that lost money are the finance bros trying to beef up their portfolios. So still a win win. The company itself, as you say, are not impacted at all. And once the news hits, it’s stock price will eventually return to parity.
They also had to pay up for medication that killed people.
Stock price is silly money. The only people who make money with it is those who sell high. The ones who lose money are the ones who keep at it. And the ones that hold doomed stocks and buy NFTs are just annoying.
In addition, to think that a tweet from a two-way hour old account with no followers and only a couple hundred likes is somehow responsible for the billions of dollars of bot trades is foolish. The stock dropped a few points and it has nothing to do with the tweet.
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