Chart: the Power of Drudge to Move Stock Prices?

If there's any site that personifies the power of the 'new media' it's The Drudge Report:

The Power Of A Link: How Mere Mention By Drudge Can Send A Stock Price Tumbling

Coincidence? Maybe. But there’s no denying the stories Matt Drudge puts on his Drudge Report get plenty of attention. For bloggers and media types, a Drudge link feels like winning the lottery–suddenly the world’s at your door, eagerly consuming your content. But what if the content in that Drudge link is bad news about your business? Well, that’s a lot of eyeballs reading something you’d rather see buried. Instead, the Drudge link can grab hold of your stock price and sink it six feet under.

Take, for instance, General Motors... Every time Drudge links to a lousy story–like the April 10 story in The Wall Street Journal about a Chevy that lost its steering wheel–the carmaker’s stock falls faster down the edge of the mountain:

So the lesson’s clear–at least for auto makers–make sure your steering wheels stay on tight, and try to get ignored by The Drudge Report.

Uhm, dude. A better approach: try making cars that people want to buy and you won't have to fear publicity.