Exhibit A: Investors know absolutely nothing at all about the future
I could find many more, but it is quite clear that the best re-rates happen after the stock has spent a considerable amount of time not doing much / declining and there is clearly pessimism in the air (despite improving fundamentals). You don't really get big rerates after a big rerate (unless you invest in NVIDIA)
POTENTIAL RE-RATE CATALYST EVENT: RESULTS, page-33
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