Only on HN can you say something so obviously true and have a reply section full of uhm ackshuwllys.
Perhaps. I suppose the biggest in history then? $1.4T valuation and 60% of shares held by non-meme institutions (like pension funds, S&P tracking ETFs, etc) when you factor out insiders.
“The market can remain irrational longer than …” - John Maynard Keynes.
Oh, so that’s from him. This is the most state-interventionist economist. The fact that state actors trusted him for their policy since 1929 has more to do with a convergence of interests than rationality.
I’m not surprised that he started the ideology that markets were irrational.
Here’s a similar quote from the great enemy of markets, Benjamin Graham:
“In the short run, the market is a voting machine but in the long run, it is a weighing machine.”
Not saying that the stock isn't a meme stock, but my car literally drives itself everywhere. Tesla has many business models.