It’s surprising to me that any investor in public stocks thinks share price is related to anything other than what investors are willing to pay. If everyone thinks price will go down, it doesn’t matter what underlying value exists, people will sell off. You hold on if you think investors will wise up at some arbitrary point in the future and buy it again. Which could theoretically be related to the value of AI, but is actually only about a monkey brain’s perception of value.

There is no underlying fundamental reason that makes stock price match company performance or value. It’s a gambling market that sometimes happens to match real financials

It's not surprising; anyone who thinks share price is something other than what investors are willing to pay has become someone's sucker.

And the industry could not exist without a strong foundation of suckers.

That's a bit lazy. Elon built a cult following, and that's what defended TSLA for a few years now, since there was no longer a story of infinite growth, or growth at all.

"Everyone thinks" but not for no reason. Henry Kissinger was one way Elizabeth Holmes made everyone think.

You’re not the only one saying this

https://finance.yahoo.com/markets/stocks/articles/buffett-to...

Stock price does not need to match company value *in the short run*. But company value exerts a tug on the share price, it won't succeed in pulling the share price to the correct value but it will in time correct the swings. Think of walking a dog on a long leash--the dog will wander but will end up where the human goes. Or even well-behaved dogs without a leash.

Attention matters when a stock is rising, fundamentals matter when a stock is falling.

The underlying fundamental value is dividends, and the assumption that they will eventually be paid, after a growth period. I think a lot of people have forgotten this.

The future of markets is a vibes exchange, where fortunes are won and lost based on social media engagement, viral media, and influencer CEOs.

In the new world order the winners are not value investors and rational actors. The winners are the outrageous, the titillating, anyone who can capture a bit of attention span.