Good question and one that isn't easily answered as the stock market is filled with all kinds of mystery and magic.
But in all seriousness there are a few reasons why:
- The announcement didn't meet the expectations of the market.
- Big players could be manipulating the market to keep the stock price down.
- Overseas investors haven't woken up to the news yet due to time difference so we might see movement at a later date.
It always seems to happen with NWZ though. The SP moves up on no news and gets driven down on good news.
NWZ has been announcing a lot of "partnerships" with "potential" revenue over the last few months without showing much "real" revenue which I believe is what the market is waiting for. They're in a good place now so an announcement of good, solid revenue is what they might be waiting for.
This isn't advice and is strictly all IMO. As always DYOR.
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