By Matthew Carr There’s an age-old strategy on Wall Street: Buy the rumor, sell the news.
We see this play out repeatedly in the hype cycle. Expectations about a major event, a major product release or a new announcement boil over into exuberance.
Investors egg each other on, saying things like “The world will never be the same after this date!”
And almost without fail, reality falls short of the impossibly high expectations.
Battery Day was a dud.
The much-hyped Tesla (Nasdaq: TSLA) event had mobs of investors drooling. It was rumored that CEO Elon Musk was going to unveil a mind-blowing piece of “million mile” technology.
But instead …read more
