I commented earlier today (https://news.ycombinator.com/item?id=45197719) that their expenses are rising faster than their revenues and that when you account for inflation, Oracle is losing money (net income) year-over-year. How do these facts cause investors to increase stock price by 40%?!?! That's insane!
The stock market no longer works for its intended function (price discovery) due to the fact that they’ve made access easily available to the lowest common denominator. It’s just a way to gamble now.
I have to say though…it’s pretty funny watching Elon get dethroned as the world’s richest person.
Retail doesn't have the money to push moves like this. Whatever this was, it was driven by big money, reacting to mechanical impetuses. So my guess is that it had almost nothing to do with the announcement.
That's why I bought some out-of-the-money (I call "lottery") PUT options in early trading, near +40% , exp in 3 and 6 months. Let's see how they pan out :P
