capitulate

It’s an old Wall Street saying that a bull market doesn’t end “till the last bear turns bullish,” or at least until they capitulate.

In case anyone wonders if there’s any point in taking a stand only to be forced to capitulate down the road, I would invite you to consider an episode from last summer.

“We’ve capitulated and changed our tune for the beat-and-raise juggernaut,” the analyst says after raising a number of near and longer term estimates for the energy company.

The terrorists apparently believed that the taking of hostages and accompanying psychological warfare would force Israel to capitulate and end the war, leaving Hamas victorious.

In spring 1877, Crazy Horse capitulated; Sitting Bull led his followers into Canadian exile, where they would remain for four years until hunger drove them back across the border.