In the bull market, rising prices intensify emotions such as optimism and euphoria, pushing market valuations to uncharted territories and defying logic (for example, at the height of the late 1990s bubble, America Online was trading at a valuation that priced every person on earth and some from remote parts of the galaxy as potential customers).
The Market Spends Little Time in a Rational State
The stock market is a strange fellow: It has multiple personalities. Once personality is in an extreme state of happiness, but the other suffers from severe depression. Rarely do the two come to the surface at once. The extremities of human emotion prevent the market from spending much time in a rational state - at fair valuation.
A bit out of topic. Talking about the Bull, here about our Property market since 2010: Can Australian home prices keep rising? We all know the answer now.
In the bull market, rising prices intensify emotions such as...
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Last
$6.68 |
Change
-0.020(0.30%) |
Mkt cap ! $4.829B | |||
| Open | High | Low | Value | Volume |
| $6.70 | $6.71 | $6.61 | $6.477M | 971.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 12782 | $6.68 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $6.69 | 15324 | 5 |
View Market Depth
| Last trade - 16.10pm 05/07/2024 (20 minute delay) ? |
| A2M (ASX) Chart |