In my experience narratives are as priced in as they are accepted, so in the interim between "you first hear of this" and "everyone believes this" there is opportunity - bearing in mind that the interim between those two things is shorter the more believable the new thing.
But for instance in the case of "there's a new plague and China is locking down" there were several months between first hearing about it and everyone recognizing it.
But for instance in the case of "there's a new plague and China is locking down" there were several months between first hearing about it and everyone recognizing it.