There is saying in the markets "buy the rumor, sell the fact". It is presumably caused by speculators buying into a stock that is rumored to be about to drop some good news, with the expectation of making a quick profit when the announcement is made. In doing so they drive the SP up. When the announcement finally comes, they then sell quickly in order to take their profit. This then results in the SP being driven back down, sometimes to below where it was before the rumor started. In this scenario the speculation can thus have the perverse effect of driving the SP down in the face of good news.
I'm not saying that is what happened to BLG today (the SP actually finished up 1c), but it is something to look out for because it can present a buying opportunity.
What seems to have happened today is simply the market having already factored in the news. I find these sorts of things are always far easier to know in hindsight than to predict beforehand.
All IMO.
BLG Price at posting:
5.9¢ Sentiment: Hold Disclosure: Held
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