During the course of the simulation, I was surprised at the power that the analysts had over the price of a stock. The most surprising example of this was with pixelplus. When they released their revised report, which was, in my opinion, horrifying, the stock barely moved at all that day. The next day, when an investment house finished analyzing the new report and came to the conclusion that the company was in trouble, the stock lost more than 40% of its value. It surprises me that so few investors read or reacted to the report, but everyone dumped their shares when the analyst downgraded the stock.