Looking at a couple hours of a stock means nothing and is purposely misleading. Zoom out and it's got pretty good upward consistency.
Posts like this are like the sad ex who can't move on and just makes up bullshit about their former partner. Let's move on and make Lemmy better instead of being stuck making up fake news for internet points.
I do this all the time in my reports to execs. If they're not paying attention to something I've been raising, I zoom the y axis in to show big up and down ticks in a visually alarming way. Similarly if they're obsessed with something stupid, I zoom out and show a much more flatlined and consistent graph so they get the big picture.
Yea now it's going through fluctuations. When this post went up it was at the peak of the 26th. Either way, we gotta wait this out before jerking ourselves off about a stock crash.
A similar thing happened with one of my favourite podcasts: Tech Won't Save Us. They just started crowing about what a craven loser Elon Musk was at every opportunity. And it really sucked all the life out of the podcast for me. Like it used to be super interesting, well researched, broad, hopeful; and suddenly it seemed to only be about dunking on billionaires.
Which, deserved. But I don't want to hear about Musk's stupid machinations while I'm doing food prep. I want to hear about something cool, like collective action in India.
Maybe I'm in the minority though. Or maybe it's gotten better by now. Idk
They probably noticed a huge bump in numbers in the episodes where they shit on Elon. There's a weird dynamic where toxic shit partially maintains it's popularity because content that focuses on debunking it gets eaten up. So 'sane' creators have to decide between creating interesting things or repeatedly dunking on some toxic shit that it grows their platform.
It's kinda how I feel about any shitty person that gets clowned on. At some point it's just like "yeah, we all know this person is a POS, what else is new".
I think they've just had the IPO, that's why we see it. But I wouldn't worry in the long term unless something major happens, but that applies to any major social media.
Get back to us in 6 months and we'll see how it's going. I have low expectations. Somehow capitalism always finds a way to propagate itself, no matter how little sense it makes.