Are there any efficient market hypothesists out there who can help me understand why shares of Google are down 14 points today? Most people say it's the unflattering Barron's cover story over the weekend, but of course that couldn't be it. After all, the article revealed no new information, and since stock prices are meant to be a roughly perfect synthesis of all the available information, surely the rehashing of some simple calculations, couldn't cause such a drop. Maybe, the cover story has nothing to do with it, and today's drop is purely random. Although the drop started Friday after-hours, right when the news hit that Google would be on the cover of Barron's.
And while you're at it, tell me why shares move after analyst upgrades/downgrades. They don't reveal new information either. Theoretically, there should be big profits by simply going against the call, waiting for the stock to revert back to it's true price. Who knows, maybe there is.