this post was submitted on 10 Aug 2024
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Technology
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No it's not.
Stocks are based on the "valuation" people give them, for whatever reason they want. Check Gazprom's recent stock valuation for a reality check; it doesn't matter what "real goods or services" it keeps providing, everyone who held Gazprom stock, got exactly $0 for it. For further information, check how much company shares are worth.
(Spoiler: they're ALL based on "hype and sunken cost")