Why does exxon mobile XOM stock plunge if they just showed recored profits?

Question

i would think if profits are way up the price per share wouild also go up, but XOM just plunged 3.08 per share. pleas someone explain.

Answer 1

Because Exxon still fell short of expectations, despite the record profit.  The market had htough because of record oil prices, they would have made even more.

The stock market is a funny thing.  You can make a huge profit but if isn't as much as expected, your stock goes down.  However you can have a loss but if it wasn't as bad of a loss as expected, your stock can go up.  It's all perception.

Answer 2

Plunged?  I can't really say that down 4 or 5 percent qualifies as a plunge but the market prices are dependent on if they meet expectations.  It sounds silly but that is how things work.  If you hold long term the silliness becomes less and less important.