You can see right there at the top of the graph it’s down 20% in the given timeframe. There’s nothing misleading at all about zooming in on the data in this chart
Comment on Ubisofts stock tanked this morning ahead of the markets opening
dustyData@lemmy.world 2 months agoLook at this thread and realize that it’s just a lie. You can show the exact same information with a starting at zero graph, but won’t be able to push the “stock is tanking!” panic point. Publishers and marketers do this on purpose to manipulate headlines. This is why the stock market is mostly just high stakes gambling. No one involved is making rational decisions, just moving from panic to mania like bipolar patients.
protist@mander.xyz 2 months ago
dustyData@lemmy.world 2 months ago
Percentages are also misleading. The timeframe will always stretch the percentage. Sure, a 20% drop on the same day is significant, but it still says absolutely nothing about the overall situation, nor why it happened. There’s research on this, observing day to day changes on stock prices to describe a company is just as effective as describing people’s personalities through astrology. It’s bullshit.
protist@mander.xyz 2 months ago
Sure, a 20% drop on the same day is significant
Yes, and that’s literally all this post is trying to convey. This post is not a news report or a economist’s dissertation, this is a screenshot of the pre-bell stock price posted to Lemmy
dustyData@lemmy.world 2 months ago
It’s already being called the lowest price in a decade. Technically true, but honestly disingenuous since the massive price bump to over €100 was an anomaly caused by the pandemic that swept the entire industry, not just this one publisher.
chris@l.roofo.cc 2 months ago
If you are not in for the dividents or the voting privileges stocks are always a game of “I hope someone is dumb enough to pay more than me for these shares”.
intensely_human@lemm.ee 2 months ago
Or someone else is in it for those things.
Markets aren’t based on one party being dumber than the other one. Markets work because different people value different things.
scrubbles@poptalk.scrubbles.tech 2 months ago
The stock is tanking. 20% is a huge drop for any massive company. Do you know how much money disappeared overnight because of this? From my very rough calculations, Ubisoft just lost aobut 300 million dollars because of this drop. That’s more than any fine they’ve had.
The worst day in Stock Market history was Black Thursday, the beginning of the Great Recession. The market only dropped 11% that day. These are massive numbers, that I don’t think you fully appreciate or understand. The stock market usually deals in single digit or more likely fractional amounts of change. Double digit changes are a huge deal.
dustyData@lemmy.world 2 months ago
I do know, none. Not a single cent disappeared. Because stocks aren’t liquidity. That money was never there in the first place. Some paid some money to get those stocks, that money was real and it entered the company’s liquidity. Then they spent it on something. Those stocks are but the promise of paying some dividends, some time in the future or giving some power inside the company. Their virtual fluctuations of price over time are nothing but smoke and mirrors, people exchanging virtual titles over those rights like little kids trading collectible cards. Some people cashed out for a low price (that was already grossly overinflated from the pandemic days, so they probably still made bank) and it pushed an already correcting stock to accelerate for today. That money didn’t come from the company, it was exchanged entirely by third parties, public traders. Ubisoft didn’t participate at all in whatever pushed the price drop. No matter how much I want it to, Ubisoft is not in any more danger today than it was in yesterday. They are still filthy rich, if anything the biggest danger for this is that it gives them lee way to layoff another group of underpaid developers or gut another studio to appease the stockholders.
If you were to compare Ubisoft today to Ubisoft 2 years ago, you would see they dropped nearly 93%. Dear golly, how is this poor boutique family company in business after such a massive loss? /s
intensely_human@lemm.ee 2 months ago
So they have 300 million dollars less to spend? They’re going to fire 300 million dollars worth of talent? Their bank account changed by 300 million dollars?
No, they did not lose 300 million dollars.