It's The Market, Stupid!

Having watched the price action of SNDA during the last couple of weeks, I cannot help but laughing:

It's The Market That's Stupid!

The series of events went like this:

• A couple of weeks ago, some analyst downgraded SNDA for whatever reasons, causing the stock to tank to 13s. But the price recovered for the day and held well during the remaining week. [Very Positive]
• Prior to earning report, price spiked $1. [News leaked or shorts is worried]
• After SNDA reported a blow-out earning and with a very upbeat earning conference call, the price of SNDA plunged more than $1. I can attribute this to three reasons:
• That's what happened to NetEas post-earning a week ago.
  
• All news headlines say: SNDA revenues and earnings droped year/year, irregardless of its Q/Q improvement and the new sustainable revenue model;
• Shorts manipulating the price: SNDA is thinly traded.
• Now (two days later), the price is going up again:
• People are starting to realize that the earning report was a great one;
• Sony's enviable problem - people waiting overnight outside stores to buy its new PS3 game console, is making people excited about the potential of all game companies, SNDA included.

Conclusions:

• The Market is not efficient;
• The Market participants are not necessarily sensible/reasonable. They may be stupid at times;
• Stocks, especially thin-traded ones line SNDA, are manipulated. Stock analysts are crooks.
  
• SNDA is going up.