“Belief in myths allows the comfort of opinion without the discomfort of thought.” – John F. Kennedy
The current stock market is exposing the myth of market efficiency.
The myth says that prices in the stock market will adjust to fully reflect the value of any given stock at any given time.
Stock prices, of course, are supposed to reflect supply and demand. If the demand is consistent and the company reports record profits or a technological breakthrough, demand for the stock should increase and the price should jump.