EinatYahav@lemmy.today to Not The Onion@lemmy.worldEnglish · 9 months agoLyft CEO says ‘My bad’ after earnings typo sends stock up 60%www.theguardian.comexternal-linkmessage-square19fedilinkarrow-up1341arrow-down12
arrow-up1339arrow-down1external-linkLyft CEO says ‘My bad’ after earnings typo sends stock up 60%www.theguardian.comEinatYahav@lemmy.today to Not The Onion@lemmy.worldEnglish · 9 months agomessage-square19fedilink
minus-squarethemeatbridge@lemmy.worldlinkfedilinkEnglisharrow-up270·9 months agoWhat’s it called when you fuck up and accidentally make millions of dollars? Oh, right, fraud.
minus-squareTremble@sh.itjust.workslinkfedilinkEnglisharrow-up215arrow-down5·9 months agoIf a typo can change a stock this much then the whole stock market is fraud.
minus-squarebstixlinkfedilinkEnglisharrow-up84arrow-down1·9 months agoNoooo?! These guys wear suits and ties, so it’s super cereal.
minus-squareXeroxchasechase@lemmy.worldlinkfedilinkEnglisharrow-up17arrow-down2·9 months agoLike the top 10% own 90%? Doesn’t looks like a fraud, it’s just business. https://www.cnbc.com/2021/10/18/the-wealthiest-10percent-of-americans-own-a-record-89percent-of-all-us-stocks.html
minus-squareroguetrick@kbin.sociallinkfedilinkarrow-up14arrow-down1·9 months agoEh, they’re off hours traders anyway. They’re gambling speculators by definition. Who cares about 'em.
minus-squareanarchyrabbit@lemmy.worldlinkfedilinkEnglisharrow-up9·9 months agoRetail traders have zero chance against the big corps and hedgies. Manipulation is rife
minus-squareintensely_human@lemm.eelinkfedilinkEnglisharrow-up8arrow-down1·9 months agoIf misreported data makes the system not work, that just means the system’s designed to work on real information not fake information.
minus-squareEmotional_Sandwich@lemmy.worldlinkfedilinkEnglisharrow-up2·9 months agoHow is a system supposed to know if self reported information is accurate or not? The stock market fluctuates based on bad info all the time.
minus-squareieatpillowtags@lemm.eelinkfedilinkEnglisharrow-up6·9 months agoIn theory these kinds of disclosures are heavily regulated, and there are consequences for reporting incorrect info. I’m curious to see if that holds true here.
minus-squareEmotional_Sandwich@lemmy.worldlinkfedilinkEnglisharrow-up1·9 months agoGood point. I guess we’ll see where this goes.
minus-squaremagikmw@lemm.eelinkfedilinkEnglisharrow-up6·9 months agoWe had more concrete evidence of that for a long time.
What’s it called when you fuck up and accidentally make millions of dollars? Oh, right, fraud.
If a typo can change a stock this much then the whole stock market is fraud.
Noooo?! These guys wear suits and ties, so it’s super cereal.
Like the top 10% own 90%? Doesn’t looks like a fraud, it’s just business.
https://www.cnbc.com/2021/10/18/the-wealthiest-10percent-of-americans-own-a-record-89percent-of-all-us-stocks.html
Eh, they’re off hours traders anyway. They’re gambling speculators by definition. Who cares about 'em.
Retail traders have zero chance against the big corps and hedgies. Manipulation is rife
If misreported data makes the system not work, that just means the system’s designed to work on real information not fake information.
How is a system supposed to know if self reported information is accurate or not? The stock market fluctuates based on bad info all the time.
In theory these kinds of disclosures are heavily regulated, and there are consequences for reporting incorrect info. I’m curious to see if that holds true here.
Good point. I guess we’ll see where this goes.
We had more concrete evidence of that for a long time.