RAC - Charts & Price Action, page-11884

The general gist of this observation seems to be that bad news comes out faster than good news.

For example, bad trial outcomes like serious adverse events need to be reported immediately, but if those do not occur there is nothing to report until a cohort has been treated, observed and the data analysed.

In research, good results are checked and double-checked to ensure correctness and validity. Worthwhile inventions are patented, which takes longer than not patenting them. Valuable IP may be kept internally as a trade secret (i.e. not made public) until the last possible moment to maximise the time benefit provided by patent protection. In contrast, bad results need to be released immediately as there is no valid reason for the company to withhold them.