this post was submitted on 03 Feb 2024
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No, the idea is that a stock that previously never provided a dividend now suddenly is.
This means that now their stock may meet criteria for certain types of institutional investment holdings that look for or require dividends.
At this point, a lot of the stock market is traded less on "the market thinks this company will do well" and more "my algorithm thinks other algorithms will value this stock in a given way."
For example, IIRC the majority of trade volume is after hours, meaning that while the markets are closed to main street investors is when the value of companies is really being decided between brokerages and institutional investors.
While not entirely a rigged game because companies actually doing well does tend to result in net price increases, a significant portion of the money to be made in the stock market is unequivocally rigged.