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The Sheer Idiocy Of The Markets In One Chart - Oculus Edition

Tyler Durden's picture




 

While we have no idea if Facebook is right in paying $2 billion (mostly in overvalued stock, thank you momo dot com 2.0 bubble-chasing "investors"), and frankly we don't care what bears noting is that while the idiocy of Facebook's CEO is still up for debate, the idiocy of the markets is once again beyond a reasonable doubt. Presenting Oculus... Innovative Sciences - a company which has absolutely nothing in common with Oculus VR, and which is up over 4% this morning because... it shares the same name as the Facebook acquisition - the same deep fundamental analysis that lead "investors" to decide that both Tweeter (TWTRQ) and Nestor (NEST) are undervalued.

 

 

But that's not all - the Canadian company Oculus Viciontech is up over 200% in the last 2 days...

 

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Wed, 03/26/2014 - 09:13 | 4593317 order66
order66's picture

Long Virtu.

Wed, 03/26/2014 - 09:19 | 4593337 MillionDollarBonus_
MillionDollarBonus_'s picture

Actualy, this makes perfect sense. Brand is everything, and this association gives serious weight to the company's image. In addition, the aquisition adds value to any IP which uses the Oculus brand, boosting tha value of Oculus' intangeable assets. 

Wed, 03/26/2014 - 09:24 | 4593349 LawsofPhysics
LawsofPhysics's picture

"intangeable assets" - comedy gold MDB!!

+1

Remember, when fraud is the status quo, possession is the law...

Wed, 03/26/2014 - 09:30 | 4593364 Headbanger
Headbanger's picture

And actually, you're fucking retarded!

Wed, 03/26/2014 - 09:32 | 4593371 Theta_Burn
Theta_Burn's picture

And in the same breath, to you, bitcoin makes no sense..

Make believe by association

Wed, 03/26/2014 - 10:03 | 4593468 OceanX
OceanX's picture

Bitcoin makes perfect sense!

Have you bought or sold a house recently?  Ever hear of docusign?  I sold my house and my ex was in another state, all the paperwork was handled on line.  Never had a face to face meeting with my ex or the buyer for that matter...

 

That is the esence of crpyto-currency!  Irrefutable binding of a contract! Still yet better, there is no counter-party risk with a crypto-currency since, it uses peer to peer networking.  Ever hear of bit torrent?  (Docusign and others have a central server)

What else, crypto-currencies will become as important to the internet as email ...another intangable asset. You use email, yes?

Wed, 03/26/2014 - 21:22 | 4596782 balolalo
balolalo's picture

lesson of the day...

BTE - Buy The Echo, bitchez.

Wed, 03/26/2014 - 10:02 | 4593464 duo
duo's picture

Facebook is going to be bummed when the beta units of this come out.

https://www.kickstarter.com/projects/avegantglyph/a-mobile-personal-thea...

It's a much better picture.

Wed, 03/26/2014 - 10:31 | 4593597 Bangin7GramRocks
Bangin7GramRocks's picture

I program my algos to buy anything that starts with A. That way I never miss out on the Amazon meteoric price moves.

Wed, 03/26/2014 - 10:20 | 4593522 firstdivision
firstdivision's picture

I hope your logic is sound, and that there is a pedo ring business by the name of JP Morgan-Chase that gets busted today.

Wed, 03/26/2014 - 09:33 | 4593321 Mercury
Mercury's picture

Presenting Oculus... Innovative Sciences - a company which has absolutely nothing in common with Oculus VR, and which is up over 4% this morning because... it shares the same name

 

How much longer until this phenomenon evolves into outright Batesian Mimicry ?

Issue a bunch of shell co. penny stocks with names similar to hot tech stocks, load up when deal chatter heats up and....dunk.

 

In other news: Chinese walled?

JPM pounds the table on WLH yesterday on the strength of a land purchase deal and today they announce a secondary.

Customers are not amused.

Wed, 03/26/2014 - 09:15 | 4593323 PlusTic
PlusTic's picture

No wonder this country (US) is fukked..morons around every corner!

Wed, 03/26/2014 - 09:15 | 4593325 Savvy
Savvy's picture

It's like watching a B movie.

Wed, 03/26/2014 - 09:16 | 4593328 BlueStreet
BlueStreet's picture

Those are the same idiots who will buy Candy Crush.  You couldn't make this shit up if you tried.  

Wed, 03/26/2014 - 09:22 | 4593343 Boomberg
Boomberg's picture

I just put all my retirement funds in Hershey hoping for a sympathy bounce with the Candy Crush IPO. I gonna be rich!

Wed, 03/26/2014 - 10:14 | 4593502 firstdivision
firstdivision's picture

I knew I should have launched a company called King Dynamics, and IPO'd

Wed, 03/26/2014 - 09:18 | 4593333 pods
pods's picture

Just the E trade baby mashing the keyboard.

pods

Wed, 03/26/2014 - 09:19 | 4593336 LawsofPhysics
LawsofPhysics's picture

Where are these "markets" you speak of?

(note: using the term "market" in my book implies a mechanism for true price discovery)

Wed, 03/26/2014 - 09:22 | 4593341 Scoobywan
Scoobywan's picture

Isn't facebook's audience trending older?

Maybe Oculus VR will be covered by medicaid someday.

Wed, 03/26/2014 - 09:28 | 4593363 giggler321
giggler321's picture

+30% of all audience clicks are fake!

Wed, 03/26/2014 - 09:35 | 4593387 Jayda1850
Jayda1850's picture

I actually own the developers kit of the oculus rift that is sold on the oculus website. I will vouch that the technology is pretty amazing and it is the closest thing they've come to commercial available virtual reality. However, like all VR sets, overcoming simulation sickness is still the #1 drawback. Hopefully with positional tracking and full HD screens will help.

Wed, 03/26/2014 - 09:26 | 4593353 AcidRastaHead
AcidRastaHead's picture

If corporate value still had anything to do with corporate valuations, this might have been absurd.

Wed, 03/26/2014 - 09:26 | 4593356 Hongcha
Hongcha's picture

Same same x 10 in 1999-early 2000 when there were 100 x more guys with $500 E-Trade accounts ...

Wed, 03/26/2014 - 09:28 | 4593361 DavidC
DavidC's picture

Fucking pathetic.

DavidC

Wed, 03/26/2014 - 09:32 | 4593372 Sudden Debt
Sudden Debt's picture

HAHAHAHAAHAHAHAHA I LIKE TO SEE THE FACE OF THOSE MORONS WHEN THEIR STOCK DROPS AND THEY FIGURE OUT THE BOUGHT THE WRONG STOCK!!!

LIKE THAT TWITTER STOCK MIXUP! HAHAHAHAHAHA

PRICELESS :)

Wed, 03/26/2014 - 09:33 | 4593374 Cacete de Ouro
Cacete de Ouro's picture

Watch Burger King (BKW) trading today as KING floats, I would not be surprised if some idiots and HFTs buy the home of the Whopper.

No one messes with The King!

Wed, 03/26/2014 - 09:33 | 4593378 soopy
soopy's picture

The only idiocy is your constant obsession with these non-events.

Wed, 03/26/2014 - 09:35 | 4593384 sunny
sunny's picture

+1

Wed, 03/26/2014 - 09:35 | 4593383 Spungo
Spungo's picture

I can give this one a pass because they actually have the same name. Tweeter was just stupid.

Wed, 03/26/2014 - 09:37 | 4593391 NDXTrader
NDXTrader's picture

Love how the financial media forgets the volatile aircraft sector when durable goods beats, but sure knows about it when it misses. I'm sure Cramer will be outraged by the futures pump last night on "stimulus bets"

Wed, 03/26/2014 - 09:42 | 4593407 Disenchanted
Disenchanted's picture

Damn, I thought this might be the first ever movie review on ZH.

Wed, 03/26/2014 - 09:50 | 4593429 yogibear
yogibear's picture

It's a Pile on Higher and Deeper mentality. 

All Wall Street needs to do is suck more foreign investors into equities and then pull the rug out and grab the money. Easy as taking candy from a baby. 

Wed, 03/26/2014 - 09:53 | 4593438 juggalo1
juggalo1's picture

While the statistics you showed for other similar companies showed some irregularity, the Oculus chart you posted doesn't show an abnormally high value, or a break above their trading range.  Besides the value of the company may be boosted by the higher profile.  In the world of microcaps any news and attention is a big event.

Wed, 03/26/2014 - 09:55 | 4593444 adr
adr's picture

I'm still trying to figure out how a company with almost no sales and no retail product gets bought for billions. It's also not an exclusive product with no competition. It increasingly looked like Occulus was having trouble making a retail ready product.

Wed, 03/26/2014 - 10:15 | 4593503 firstdivision
firstdivision's picture

But...but...but HFT creates liquidity....

Wed, 03/26/2014 - 11:01 | 4593747 starman
starman's picture

Suckerberg wants to jerk off in virtual reality!

Wed, 03/26/2014 - 11:09 | 4593760 Joenobody12
Joenobody12's picture

Someone tell that asshole at Facebook he bought the wrong company.

Wed, 03/26/2014 - 11:32 | 4593913 Winston Smith 2009
Winston Smith 2009's picture

Oculus VR, Inc.

1 Sep 2102 - $2,437,429 Kickstarter

12 Dec 2013 - $75 million Andreessen Horowitz Series B venture funding

25 Mar 2014 - Purchased for $2000 million by Facebook

Nah, this isn't dot bomb levels of stupidity, right?

Wed, 03/26/2014 - 11:54 | 4594029 Ariadne
Ariadne's picture

The j??s at FB are doing the same thing the j??s at Google have been doing for years with their pile of public money.

Wed, 03/26/2014 - 12:47 | 4594255 tstraus
tstraus's picture

During the week in the early 1980's when gold made its parabolic move almost doubling, a company called Scotts Liquid Gold took off in the pink sheets with, as I recall, more than 200%. Of course, the problem was that Scotts Liquid Gold was a furniture polish-- and that was the absolute top in gold for many years.

What is out there I do not yet know, but there is a rising sense of chaos in the world that will be reflected in financial markets. Before economics became its own independent, primarily mathematical science, the study was called political economy for a reason. To assume so blindly that the two streams will not connect at some point is a fools thought process. We are heading for a truly transformative series of events. The underlying turbulence will collapse all social disciplines back into the same soup from which they arose, economics, politics, sociology--a forgotten discipline, from which will arise a new more liberating human social and economic architecture. Getting out of the soup without drowning in it however, for most, will be nearly impossible. Every week that goes by that the illusions of prosperity and financial well being reflected in financial markets, particularly the stock markets of the world, is a week closer to the convergence and collapse.

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