I'm a bit confused as to why postponing the evaluation of the ETF would cause the price to drop. It's not like this ETF was approved before, and I can hardly believe that past prices were largely based on the assumption that this ETF would be approved right away. To me it seems like the media is blowing up the importance of this evaluation. Sure, getting it approved, could cause some more money to flow into the markets, but seeing how much the price has dropped lately, I don't think this ETF matters nearly as much as the market sentiment in general. It seems like the only reason why we put so much emphasis on this ETF evaluation is that we either consciously or subconsciously believe that the SEC's viewpoints are representative of the world in general (which might be the case, although I hope not). Just a thought.
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It's crazy, right? I wouldn't have considered it bad news, but as you say, the media have a lot to play to sentiment. Also, thought-provoking final comment. Are we all just brainwashed zombie? Lol... :)