Feb. 5 at 8:59 AM
Stocks aren’t selling off because earnings are terrible — they’re selling off because expectations are being repriced.
Examples:
•
$PYPL missed + CEO change
• Chipotle beat but traffic falling
•
$AMD beat, still dumped after hours
•
$NVDA slipped once OpenAI uncertainty surfaced
Same result: risk gets priced immediately.
When the
$NVDA/OpenAI news hit, selling was already visible in futures — a classic gap where spot traders react, not lead.