The Long Island Iced Tea parallel was a good one. That reset was a weird occurrence. I mean, if we consider belief outrunning the balance sheets, perhaps not as bad.
The comparision to Long Island Iced Tea's blockchain pivot is spot on. I've seen this pattern play out in several market cycles and the mechanics are always similar: hot narrative, scarce float, and social media amplification. What's particularly intresting here is how the feedback loop between upper circuits and investor psychology created a self-reinforcing momentum that became completely detached from any buisness reality. The fact that the company itself asked regulators to reset the price is honestly wild.
The Long Island Iced Tea parallel was a good one. That reset was a weird occurrence. I mean, if we consider belief outrunning the balance sheets, perhaps not as bad.
Exactly. Not great, but not shocking either when hype gets that far ahead of the business.
The comparision to Long Island Iced Tea's blockchain pivot is spot on. I've seen this pattern play out in several market cycles and the mechanics are always similar: hot narrative, scarce float, and social media amplification. What's particularly intresting here is how the feedback loop between upper circuits and investor psychology created a self-reinforcing momentum that became completely detached from any buisness reality. The fact that the company itself asked regulators to reset the price is honestly wild.
Well said. That feedback loop between narrative and price action really does take on a life of its own.