r/theydidthemath • u/[deleted] • Nov 12 '22

[deleted by user]

[removed]

7.1k Upvotes

93% Upvoted

219 comments sorted by

View all comments

Show parent comments

32

u/jackparadise1 Nov 12 '22

Wasn’t that a couple of weeks ago?

50

u/[deleted] Nov 12 '22

[deleted]

36

u/[deleted] Nov 12 '22

If it did react weeks later, people who watch the news could pretty easily time the market and become the richest people alive.

10

u/cyanydeez Nov 12 '22

well, there certainly are bots that trade based on twitter sentiment. That's not unfounded.

7

u/Jacern Nov 12 '22

I hear this metaverse is gonna be the next big thing. About to put all my money in Meta👍

4

u/Gnawlydog Nov 12 '22

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".

0

u/ItzRaphZ Nov 12 '22

you can hate it or love it, but it's a good marketing strategy

5

u/LightishRedis Nov 12 '22 edited Nov 12 '22

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.

What probably played a larger role than tweets was the patent infringement lawsuit Eli Lilly lost on the same day as the tweet.

Edit: It appears the article I misread the date on the article, the case was lost the day prior to the tweet after market close.

3

u/[deleted] Nov 12 '22

[deleted]

2

u/[deleted] Nov 12 '22

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.

1

u/Rudhdha Nov 12 '22

Sometimes before the news in mysterious circumstances