> press releases focus on super-optimistic specs and timelines.
I disagree. The job of IR communicators (employed within the company) is not to hype up a stock - its to give correct information regarding it.
Every nudge up has a subsequent nudge down, and every nudge down has a subsequent nudge up.
If that doesnt make sense, if a positive effect is seen upon a shares price, right after you are almost guaranteed to see a downwards correction explained by a bit of depression at the end of a mania. (stock markets are sometimes referred to as being manic depressive - iirc Warren Buffet said this amongst others).
Ingvar Kamprad (founder of IKEA) famously said that entering the stock market is like peeing yourself: "first it becomes warm, warm. then it becomes cold, cold"
And vice versa with dips -people seem to momentarily go "well it cant be THAT bad" and at the end of a dip the share price often goes up a little bit.
And no corporation wants to have a volatile stock. They want a stable stock that big investors can put money on.
That is why the IR communicators jobs are to stabilize the dtock by NOT hypeing anything up in the PRs as they know that if they do, they contribute to the stocks volatility.
And this is why we have profit warnings - the IR department saying before a report goes out that "hey - the report is gonna be better than forecasted" or REVERSE profit warnings for the opposite case. (im not an expert so those terms might be reversed)
In other words, profit warnings have the sole purpose of stabilizing the stock as do the whole IR depts operations. So a serious publicly noted company would not benefit from doing what you say - "press releases focus on super-optimistic specs and timelines".
just my 2 cents, whatever that means.