[fbreton]

They would pay a premium to avoid uncertainty, so they wouldn't accept that offer either. The uncertainty is the same whether you sell or buy the flips. I don't know you, but I guess you wouldn't pay $499K for a $1M/$0 flip, and you wouldn't sell such a flip for $499K either. This is the same phenomenon on a much smaller scale.

[HugThem]

    I guess you wouldn't pay $499K for a $1M/$0 flip

No. But the discussion here is about shares. And they are not $499k a piece.

We are discussing if the share price of a company that publishes numbers in line with expectations should go up.

[kgwgk]

What do you mean by “expectations”? If Amazon trades a $2000, is the expectation that it will stay at $2000 forever? Or is the expectation that will go up because it will surpass expectations?

If by expectations we mean the numbers published by sell-side analysts they may or may not be close to the actual market expectations.