So in that scenario, is it beneficial to society that someone who has a 50ms delay live feed can unload their shares at a higher price than someone with a 5s delay live feed? Or the same question for someone who has AI to parse the information and execute trades faster than the human?
There's a benefit to liquidity to everyone, but I don't really see a liquidity benefit faster than a few _minutes_, much less faster than a few _ms_: end individual traders don't even get to trade that fast anyway, they're just artificially disadvantaged against the institutions.
Earnings call is a review of the quarterly earnings document usually released earlier that day. The stonk price fluctuates almost entirely on how accurate the guidance was and what the future guidance is. Even doing excessively good in a quarter can have a negative impact because they didn't give their investors an accurate heads up. I guess maybe some horrible pro-Hitler rant may affect the price, but to zero? I haven't seen that.
