[cryvate1284]

It's not that binary though. Imagine you belief Twitter is worth 45.01USD but it's trading 45USD, would you throw your life savings at it (disregarding fees), no, of course not, way too risky!

The way I see it, people (and other entities!) don't think Twitter is worth X, they think there is a distribution of worth.

This means there is risk in their bet, so if I thought Twitter was worth (on average) 100USD, that wouldn't mean I would sink my life savings into it but would put in some, based on the risk and also what else I need capital for.

Also, how much one thinks Twitter is worth probably also depends on your time horizon: like the old adagium that the market can stay stupid for longer than you can stay solvent, e.g. when shorting a scam.