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What Happens When An Idiot Market Finally Gets The Post-Euphoria Hangover
Nowhere is the 'get-rich-quick', 'fundamentals-are-for-suckers', new normal 'idiot' market more apparent than in the "mistakes" investors have made in Twitter's IPO (TWTRQ), Google's NEST acquisition (NEST), and now Facebook's Oculus purchase (OCLS & OVZT).
Recall our post from two days ago "The Sheer Idiocy Of The Markets In One Chart - Oculus Edition" following FaceBook's acquisition of Oculus VR:
... and fast forward to today:
As The Fly noted on the day of the surge following our post,
Shares of Oculus Innovative Sciences (OCLS), a healthcare company that makes products for treating acute and chronic wounds, are trading higher after Facebook (FB) acquired another company with a similar name but very different business.
Facebook announced that it has agreed to acquire Oculus VR, which is is based in Irvine, California and makes the the Oculus Rift, a virtual reality headset. Facebook will pay about $2B for Oculus VR, including $400M in cash and 23.1M shares of Facebook common stock valued at $1.6B.
Oculus VR is not related to Oculus Innovative Sciences. A company spokesperson told The Wall Street Journal's MarketWatch that the mistaken identity "might play a part" in today's move higher.
Another company, Oculus VisionTech (OVTZ), clarified earlier in a press release that there is no material change in the affairs of the company and the company is not associated with the transaction involving Facebook and Oculus VR.
Oculus VisionTech, which is based in Vancouver, designs and markets technology for delivery of digital media and trades on Canadian exchanges and on the OTC markets with the ticker "OVTZ."
Peak stupidity?
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Then we all go back to watching cat videos.
http://www.uproxx.com/filmdrunk/2014/03/video-banecat-cat-dressed-like-bane/
The lights on the titanic went off while it was firmly resting on the bottom of the ocean.
RIPS
There's also a horror movie coming out called Oculus. Maybe we should invest in that, too.
Damn...
Peak Stupid ? I'm going to vote yes on that one. That's what it looks like to me.
cramer has the ceo on tonight: fixed
You look you just heard from Dean Witter!
It wouldnt make sense even if it was the right company. Its already been bought, you are too late Muppets!
Exactly. I believe it was Mike Mahoney or Peter Schiff who recently said, "The retail investor (whoever is left in that supposed lot) buys yesterday's news."
It's like the guy with beer goggles chasing anything in heels; DESPERATE.
I wrote a song about that - https://itunes.apple.com/us/album/drunk-little-irish-boy-single/id811586176
"Doesn't matter what you look like honey, I got my beer goggles on!"
Peak stupidity? Listen to CNBS for 8 seconds...stupidity knows no bounds.
TOP NEWS - MICHIGAN FAGS CAN MARRY!
pull my finger.
Mistaken identity might have played a role? MIGHT?
Maybe somebody should start Feetbook. Post photos of feet, then announce they are getting bought out. Or better yet declaring bankruptcy. Maybe that can tank FB out of association.
Confidence in corruption.
What a winner that is.
Damit Tyler you gotta lie. s/
"priming the pump" I think is what they called it in the 70's (80's)...anyone who has to eat or buy fuel (save coal strangely) is gonna get crushed...that includes me of course...so yet again 'mericans find their selfies asking "what is the value of the paper in the their/us pocket."
and of course the answer is "more"...but for who? or what?
those stock purchases are purely the product of chat room idiocywhat else could explain it other than people piling into something because they saw a stock symbol in a chat room and were told to buy it and never did any independent research before mistakenly buying the stock
Don't give me the details, just BUY OCCULUS!
I think one of my cousins had that disease, yeah Oculus, I'm pretty shure hes been in the nut house ever since.
Hair of the dog please!