Not entirely true, just because SP rise in anticipation of a good result, does not mean the ship leaked.
Prices go up in anticipation all the time, and companies are always asked why if it's a steep rise in a short timeframe. I don't think this necessarily means a leaky ship.
However I take your point, management could have said "yes, it's anticipation for results coming soon" and left it at that, but it's their choice how they want to respond. After all they didn't have to request a TH to respond at all, they could have just punched out a short sharp reply and let trading continue until they were ready with an anns.
You are correct that it MIGHT be a leak and they need to address this, but I wouldn't go as far as to say "clearly". If this is the case, a leak and such a sharp increase are again only a positive sign.
My personal view is that there was no leak, the buying has been slow and steady with buyers outweighing the sellers, there has been no clear massive accumulation unless someone is just trying to fly under the more rad and accumulate 1-2m per day? Who knows.
IMO regardless of what's happening the news is probably going to be good
CGM Price at posting:
1.6¢ Sentiment: Buy Disclosure: Held
