Generally you do find however that companies drop quite rapidly before bad results. This is because people with money actually know how the company works and they have the resources to do the sums and see the whole picture.
Newspapers and the rest of us apparently do not. That is why it is dangerous to hold companies that have a business model that is threatened by current economic shifts. Even when the company has not announced anything but the price is down 50%.
See Billabong etc.
is the market completely irrational?, page-24
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Last
$2.74 |
Change
-0.050(1.79%) |
Mkt cap ! $3.770B | |||
| Open | High | Low | Value | Volume |
| $2.82 | $2.82 | $2.73 | $10.11M | 3.669M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 62478 | $2.73 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.76 | 29890 | 2 |
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| PRU (ASX) Chart |