How "the markets" work - an update

[Rogin the Armchair fan]

Cristiano Ronaldo wipes $4bn off Coca-Cola's value by snubbing it and telling his fans to drink water instead

https://www.theguardian.com/football...s-market-value

[Sporting]

I saw this and something doesn't ring right.

[ursus arctos]

It was a 1.6 percent drop, which is well within what one would expect for a stock like Coca Cola over the course of a week.

I would expect it to be back to where it was by Friday's close.

Also worth noting that Coke sells bottled water.

[DCI Harry Batt]

Bottled water seems to me an excellent example of how this ridiculous system we have "works"..

[ursus arctos]

Especially the version thereof sold by Coke and its ilk, which is nothing but filtered tap water

[caja-dglh]

To choose Coke's price reaction to this as an oddity of the stock market in 2021...

[The Awesome Berbaslug!!!]

It's articles like this that make me wince at the functional innumeracy of mainstream journalism. Whether it's the political journalists who focus on the soap opera rather than what happens to the money, or nonsense like this.