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Lyft CEO says ‘My bad’ after earnings typo sends stock up 60%
(www.theguardian.com)
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this post was submitted on 14 Feb 2024
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What's it called when you fuck up and accidentally make millions of dollars? Oh, right, fraud.
If a typo can change a stock this much then the whole stock market is fraud.
If misreported data makes the system not work, that just means the system’s designed to work on real information not fake information.
How is a system supposed to know if self reported information is accurate or not? The stock market fluctuates based on bad info all the time.
In theory these kinds of disclosures are heavily regulated, and there are consequences for reporting incorrect info. I’m curious to see if that holds true here.
Good point. I guess we'll see where this goes.