Ben Graham is rolling in his grave rn.
All the time now, a company performs well and the stock price drops because of it. Take Lowe's last week for example. It literally doubled earnings, 8x in a row it's destroyed them, and It's down 9% since. What more could you literally want from a company (I dont own it btw, so this isn't a rant on that basis)
I know the argument is "ThE WhoLE MaRkEt Is DoWn". Sorry, no, I don't buy this bullshit.
Let's look at todays winners;
America Great Health is the 5th biggest gainer today, up 15%. It's a garbage fucking pennystock that trades at 0.18 cents. Even worse, it's a bullshit pharma stock that used to be a fucking marketing company. Normal volume is 10 million. Volume today - 200 million. There is no news to justify this interest
Iovance Biotherapeutics, another fucking pharma stock, missed earnings, has CLAIMS OF SECURITIES FRAUD, and is up 15% today.
LifeMD has had 2 lawsuits filed against it in the last week, about claims its directors have committed (even more) fraud -- seems like a pattern. Even better;
LifeMD appears to use unlicensed doctors to dispense OTC medications, has implemented an autoshipping/autobilling scheme, failed to honor guarantees, and put in place abusive telemarketing practices.
So what does the stock do in response to this? Of course, it jumps 15%.
To end my rant, the 3rd placed highest today is another bullshit company, a Chinese medical company called Lianluo Smart. There's one single news article linking it to a takeover by newegg or something, the news article made little sense. Low and behold, normal volume is 400k, today it's 9 million. Even if the news is to be believed, this one single article was posted 1 hour ago, yet the price suddenly spiked 2 hours ago.
So, why do companies that do well, make money, smash earnings lose their stock value, and bullshit, nonsense companies get P&D so much. This is a daily occurence. Every single day I see a new company increasing its share price by 50%+ and it's nonsense. I thought P&D's were illegal.
I'm losing (lost tbh) all faith in the market and it feels more and more like a (rigged) casino every day now.
Submitted May 20, 2021 at 08:22PM by billybumpkins https://ift.tt/3fCSAzs
