Re: This is why I do not watch CNBC anymore
Thanks. The game may well be rigged and if people use inside information to rig it, they have committed a crime.
That people hype a stock or shoot down a stock is not necessarily illegal. They are playing with stock owners perceptions especially those who want to make a quick profit. But playing with people's perceptions is not limited to the stock market. Car magazines can make or break a model. Comments on a neighborhood can effect house prices in it. Ideally one has to trust one's own judgement. I was pissed when an article would drive down MNKD's price, but that is the cost of owning a speculative stock.
As I mentioned in another post I sold way too many covered puts prior to the ADCOM. Enough that I attended it. Feuerstein's negative comments just pushed up the price I got when selling the puts. He made me nervous, but in this case all the research I did said it was very very unlikely that the ADCOM would be adverse to a approval recommendation. You may be too young to remember Joe Granville. But there was a time when his pronouncements actually moved the stock market by over 100 points. I didn't think he did anything illegal. Didn't appreciate his comments, but it's all part of the game.