In 1995, Charlie Munger coined the term"Lollapalooza effect" to describe a confluence of several factors, all influencing in the same direction, causing an extreme outcome. While he used the term in a psychological context, it can be used to describe recent stock price movements in the US as well.
Over the past few trading days, the US has seen both the biggest gain of a stock in a single day , and the biggest loss of a stock in a single day ever . The bulk of these one-day moves happened within minutes of the companies releasing their earnings announcements...
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: