This is literally just the Discovery channel? Ha ha. I wonder if one of the long term effects of index investing will be more boards taken over by management and unafraid of activist investors pulling obvious shareholder ripoffs like this.
I think he got bribed to merge the company with with Warner Media and the article indicates the options are currently out of the money, but it is still disgusting.
From a JP Morgan report yesterday:
JPMorgan analyst Alex Yao double downgraded Alibaba Group Holding Ltd (NYSE: BABA) to Underweight from Overweight with a price target of $65, down from $180 (21% downside).
A double downgrade! Can’t wait for the triple dog downgrade.
Imagine the whiplash you’d get if you took analysts seriously.
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I think it’s a question of how much you get paid to take analysts seriously. A lot of the investment industry is just portfolio managers and consultants and salespeople and investment bankers creating jobs for themselves. You can fund a lot of jobs out of the accumulated capital of the investors.
Oil down another 7% today. Local gas prices have finally come down $0.03 off the high
Pretty sure it’s also TLC, HGTV, Food Network, and some others.
CEO about to be doing some extreme coupon clipping if his options get in the money
Sold it this morning. FUBARed that one all up. It will shoot back up now.
Stonks 
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Chinese ADRs going nuts pre-market after Xi decided enough is enough.
Stonks are happy about something the last couple days.
Those were periods with inflation > 10% and mortgage interest rates over 15%. So your average household wasn’t getting rich investing in the risk free rate with all their savings.
I legitimately and sincerely think the Fed has a really fucking hard job and I’m happy we have people who aren’t political hacks running the show.
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Powell for months: we’re going to raise interest rates
This morning: STONKS
Powell this afternoon: we’re going to raise interest rates
This afternoon: NOT STONKS
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This is by design and an obvious (to me at least) way to skim money. The people who direct the algos obviously have this foreknowledge. Yet the algos crater upon “bad” news… Only to instantly rebound back where they were (because this was already known so nothing is different) after a quick selloff and rebuy. Someone takes a loss, I don’t know who, but I know who doesnt.
This didn’t age well.
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Riverman says not stonks: STONKS
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