Everyone is already long. Who is left to buy the good news?

Summary

Arm beat on every line and the stock fell. Qualcomm beat and fell harder. Toyota raised its guidance and went nowhere. Steve Sosnick of Interactive Brokers has one explanation for all three, and it is not the fundamentals: if every institution is already positioned, there is nobody left to move the needle on good news. Pras Subramanian has Qualcomm's memory costs and a Toyota that never pivoted to EVs, and Brooke DiPalma broke the Amazon and Uber Eats tie-up on air. Also: why a data center moratorium makes the hyperscalers more valuable, and the toughest housing market in a generation…

Description from Yahoo News.