what's drive the sp movement?

The rise of SP for the last few day looks like all on the back of the Wal King appointment. But my question there is is the appointment really that big?

Of course Wal King's appointment is a very good news to SDL shareholders, but all we have now is assumption, he hasn't done much for the company yet, and there is no guaranty.

The fact is Wal King holds a similar role in Ausdrill as a non-executive director and Deputy Chairman since April 5, 2011. (the day after the appointment, trade volumn increased 600%, price dropped). But look the price of the shares, it dropped from $3.87 to $0.87. Now the company's MC is $270 mln similar with SDL.

So, my conclusion here is the stock is trading on speculation.

However the Noble off-take agreement is a real deal, but the market choose to sell off on the fact.

My worry here is if the SP keep going up base on the exception for the ann in the next few weeks, then it could be a sell off on the ann. ( I hope I am wrong, but there is possibility).