<< Is this year more punishing to stocks that don't perform as they're "supposed" to than others. >>|
I don't have any objective or statistical way of answering this question. My only basis for answering is experience.
Selling on earnings news, even "good" news, has been going on for years. AVEI, BOSA, NRVH, and others all released outstanding earnings reports this week, and all sold off heavily on the news. I don't think this type of selling is any more prevalent this year than in past years. It's become a standard Wall Street self-fulfilling prophesy.
The "dumping" of stocks, like we've seen with AATT, is happening with increasing frequency, in my opinion. I think this correlates with the increasing popularity of momentum investing.
Another observation of mine is that the news causing panic dumping doesn't need to be nearly as severe as it did a few years ago.