This is the chart showing JP Morgan’s stock price over the past few days. If you still happen to be under the impression that markets aren’t a total sham, I’d encourage you to take a look at this stock chart, alongside the headlines released while the stocks price was climbing.
- JP Morgan Second-Quarter Profit Fell 8.7%
- JPMorgan’s Botched Trades May Generate $7.5 Billion Loss
- JPMorgan’s trade losses soar in second quarter
- JPMorgan loses $5.8 billion on trades; traders may have hidden losses
How in the world is a company that is posting these kinds of losses, with this kind of press, pushing out a stock gain of nearly 6% since the day’s open? I would love to know what would happen to Microsoft or Apple or Oracle stock if they put out a press release headlining: “Second quarter profit dropped 8%, and one of our factories burned to the ground”.
For any “normal” company posting numbers like that, the stock price would be tanking. Who on earth is buying this?