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Trump Media shares halted after sudden DJT stock plunge
(www.cnbc.com)
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this post was submitted on 15 Oct 2024
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This chart looks like it came straight out of an economics textbook with the caption "An example of a dead cat bounce"
It looks like it because the Y axis doesn't start at zero.
If it went to zero, then yes that would be a textbook example.
When we had to print stuff out it could be defended, but even then I'd like it to start at zero and show a break to jump up.
If being zoomed out to zero means it erases the change being shown, then that matters. Not zeroing the y axis can make anything look crazy.
I dunno, I'm a stats nerd, I'll rant about it every time I see it.
There is nothing about "the dead cat bounce" that requires it to going to zero, only that it be a long term falling pattern with a brief uptick at some point. . . which we're arguably seeing today.
However, the real problem is not so much the Y axis, as this is extremely typical of ticker views, but the X axis, as this is "downward trend" is being viewed over just one day. It hides the fact that the stock is up 50% in in the last month. I doubt Trump is sweating this drop too much.
We're once again seeing how easily manipulated lemmy users are, and how little they actually look into anything themselves, or how quickly the rush to conclusions about things they don't understand.
Lemmy users are, for a large part, former or concurrent Reddit users who did not like some action or another taken by the corporate administration of that platform, it would be a mistake to assume that they are somehow less liable to manipulation or jumping to conclusions that users of other social media merely on account of a somewhat anti corporate slant
While I absolutely agree, I find the "average poster" here to be at least as gullible as the average redditor. But not quite as bad as the "average /r/conspiracy" poster, but getting pretty close. My experience seems to be the more adamant people are about their beliefs, the more open they are to confirmation bias.
This was kind of my opinion. I don't pretend to know a lot about stocks, but when I look at a 1Y view and see the stock had doubled, and like you said a 50% increase in the last month, this looks less dramatic. I don't doubt it has something to do with a negative reaction to his latest rally, but I'd wait at least a day or two before I assumed this was a major setback for his stocks. Obviously, I'm not day trader material.
*hats off
I'll take any informative rants people want to give. Thanks for yours.
Congratulations on being the best kind of correct
I know it seems pedantic, but I think it's rise in use especially with stock prices has a large effect in people's minds and has helped usher in the stock culture where numbers must always go up and any dip is death.
Like, you know those studies about how language shapes people's minds and more communal languages lead to people who often think of others and prioritizes the group?
I think y axis graphs not starting at zero is leading to decades of financial analysts obsessed with the most minute changes and drastically over reacting to anything that happens, even if stepping back to a 0 Y graph the change wouldn't even be noticeable.
Obviously I'm not mad you linked it, it gave me a chance to vent about this stupid graph.
I'm pissed CNBC is doing it, they have people that know better but this graph is more sensationalized so that's what they ran with.
The thing is this shit has real life consequences and our economy is fundamentally built on people's opinions. If people get scared of investing in general because of zoomed in graphs and panic sell, it could domino into an actual crash.
Like, you ever have one of those days where you think Nero was smart for just kicking back and watching the show and Cassandra was the crazy one because she never stopped trying to explain what she thought was obvious?
It's been on a run over the last month, coming off a $12/share low and screeching towards a $32/share high.
Movement like this is absurd, given the near nonexistent changes in actual business activity around the equity. Either its being pumped and dumped by speculators or used as a back door around campaign finance donations or who even knows what. But the degree to which the SEC is turning a blind eye on this nonsense is one more data point in the "Rich People Play By Different Rules" connect-the-dots game.
QFT
The amount of things happening around Trump that are "literally textbook" examples of the worst things to do and what not to do is honestly staggering.
If the US survives the next 4 to 8 years, the Trump era is going to be in every history, economics, and public health textbook ever
To be fair, most presidents make it into at least the history textbooks
What they mean is that there’s going to be an entire fucking chapter on Trump in a variety of domain-specific textbooks, and it’ll all be in the spirit of “what NOT to do”
Like standing around for 39 minutes listening to music and taking no questions at a town hall
It's like Goofus is somehow a real fucking person and somehow also an ex-President and aspiring to be President again.
Trump is no Goofus. Goofus had negative repercussions because of his actions.
Yet somehow he was president. Bizarre.