Thank you for reminding me of the Modigliani - Miller theorem...

Thank you for reminding me of the Modigliani - Miller theorem and the Efficient Market hypothesis. You need to understand the market is rarely theoretically consistent with either WACC calculations or other stock pricing methods, nor an individual investor knowing exactly what has and hasn't been priced in. The hypothesis of efficient markets is fine in concept but not in practice. Oh yes, I did study corporate finance and learned how misaligned markets can be to theory but thanks for the reminder. What amuses me is your constant negative commentary on the stock given I would have thought your efficient market insights would take you to greener pastures. All I can assume is you have nothing better to do which demonstrates you don't value your own time. You would be better going to study Daniel Kahneman and Amos Tversky on Prospect Theory given I think you probably need to go back to the beginning. Then you can move on to the other contributors to behavioural economics including Richard Thaler.