If you want a vivid illustration how quickly a fad and burst onto the scene and vanish just as quickly, look no farther than Buzzfeed, which merely four weeks ago was the hottest thing in pants. Based on a press release that they were going to use ChatGPT to help write stories (!!!!!!!!) the stock absolutely exploded higher, trading over a quarter billion shares that day alone. Well, some of those gains survived, but the volume is back to where it used to be………maybe a couple millions shares a day. I strongly suspect on the one year anniversary of this announcement, we’ll look back on this as a complete joke.
