which is why they dont. otherwise an influential investor bulletin or webinar which generally raise share price would not be considered non material
the share market is judged to be a mysterious creature when it comes to director responsibilities. they arent supposed to have a mystical power for divining how a market will react to information because the market frequently appears irrational
why should facebook share price falls affect all tech stocks?
thats why the threshold from a director's responsibility is generally treated as i said - though as ive said previously theres a wide degree of latitude because its all still judged via subjective perception
'expectation' casts a broad net
what a director focuses on is what is 'defensible'. thats why they generally use hard measures as ive pointed out - because its rationally testable and defensible if questioned
market reaction to a non income guaranted alliance is not something its possible to rationally test.
some days sp would rise. some do nothing. some fall.
as i said - smaller the market cap - more market will view non income announcements as potentially market relevant
BUD isnt quite that small anymore though its still within the bandwidth where thats a judgement call
