Not The Onion

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Lyft CEO says ‘My bad’ after earnings typo sends stock up 60% (www.theguardian.com)

submitted 8 months ago by [email protected] to c/[email protected]

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[–] [email protected] 11 points 8 months ago

The market is only real because people believe in it. Unless you plan to be on the board of a company, the stock is worth exactly the expected dividend, which most stocks no longer pay. There is no intrinsic value to a stock… people will pay you a spot price today only because of the expectation they will sell at a higher price later. Without that belief, there is no value.