With A2M there always seemed to be a tendency towards 'buy the rumour, sell the fact' once its confirmed. Some of the things they mentioned, like the strong 11/11 results, were fairly easy for the trained eye to spot beforehand and probably explains a bit of the SP run up prior to the AGM. It's the perfect kind of information for short term traders because there is so much publicly available e-commerce rankings and data around the event - it's hardly 'buying the 'rumour' because its pretty reliable info.
A2M also generally does not give specific revenue guidance, meaning that there will always be a wider range of expectations at any given time. That's not inherently good or bad but can make immediate market response to news more unpredictable. The dust usually has to settle a bit to get a genuine read on what the market thinks, for instance, once the bigger funds have weighed in.
Have not seen any substantial holder notices in a long time - becoming or ceasing.
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