Just an observer, so no agenda, but please understand that...

Just an observer, so no agenda, but please understand that goodwill has NO intrisic value due to it being purely an accounting construct to highlight when an acquirer has paid more than book value for an acquisition. Back in the day, firms such as CSCO used pooling of interest accounting which did not entail having to recognize any goodwill when making acquisitions, but that is no longer allowed by GAAP.

However, some market participants might see a writedown as a signal that management is no longer confident in the future cash flow generation of the acquired asset, which would clearly be a negative for the share price.

But again, goodwill has no value per se and therefore impairments do not impact future cash flows, which is all that really matters when it comes to share prices.