I don’t think it makes that much difference when announcements are released to be honest. The market eventually corrects over time for better or worse as people come across the news and act on it either way. It’s nice seeing initial spikes on opening on the day when good news is released but you’d find that the real impact is seen over coming days and weeks as people have a chance to read the documents and digest them.
It’s a very small portion of the market that’s actually actively reading announcements the minute or hour they come out, then they act to try and get shares cheap which causes those spikes. Most people investing are probably working day jobs that simply don’t allow time to read documents with any real substance and length. But a lot of the morning action is also just day traders looking to gain on exactly this kind of hype and then selling out very shortly after.
MGU Price at posting:
4.5¢ Sentiment: Buy Disclosure: Held
