The stock market had a good day on Wednesday, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) in particular powered markets higher. The Nasdaq was up 1.75% at 2 p.m. EDT, and investors were generally pleased to see that the prospects for economic expansion and recovery look increasingly strong. After a slump, high-growth stocks looked ready to return to their big gains.
Yet another popular trend lately caused an aberration that shows just how inefficient markets can be. The move affected investors in Discovery (NASDAQ: DISCA) (Nasdaq: DISCB) (NASDAQ: DISCK), and huge disparities across three different share classes effectively proved that at least in some ways, the stock market is fundamentally broken right now.