Actually, the SP doesn't lie. It accurately reflects the market's emotions and sentiment towards a company.

The market's sentiment towards PTSC were accurately reflected in the SP this past Summer.

No one bought (pun intended) Angela's postivie outlook.

Market sentiment is obviously more important than a balance sheet. Everyone marveled over Patriot's balance sheet during the Pohl era - "no debt, plenty of cash" - etc. etc. but yet the SP tanked. Why did this happen? Market sentiment with a little help from our friend Swartz.