Does an iced tea company changing their name to Long Blockchain make any sense? No, not really, it's pretty stupid actually, but it managed to bump the stock by apparently 380%.
The stock market can be pretty dumb sometimes. Let's not forget the weird GME bubble.
GME was hardly a trick either. If you actually read the subreddits at the time they were all perfectly aware of the nature of the thing. They literally go around calling it degenerate behavior (i.e. risky, frothy, baseless).
Why is the assumption that you are smarter than everyone else? That you can interpret the world but everyone else needs protecting?
I do think I know more than the average person about computers. Probably most people on this forum can say that. People who know about computers are more likely to be able to smell bullshit with a name like AGI. It’s not that I am smarter, I wouldn’t be able to call bullshit with anything involving chemistry or physics.
I think, like Long Blockchain, ARM is abusing that world’s collective computer illiteracy and trying to harvest investor money in the process. Clearly this has worked once, as was the case of Long Blockchain.
> People invest in sentiment, in momentum, in all kinds of second order effects.
Yep! And this is why it is wrong for corporations to put out incorrect or misleading statements, as it creates a sentiment that is not realistic. This can then propagate in the form of the stock price not being realistic.