It looks like SIMO's good report leaked about 2:40 PM.
Hard to tell with SIMO. In Q1 the shares went from $3 to $6 in about a month (March), then they positively pre-announced Q1 in early April. So that seemed like a leaky news share price movement.
But then in late June, in two days, the shares went from ~$5.25 to $4.25. It seemed that perhaps bad news had leaked. But then, SIMO positively pre-announced Q2 about a week later. And last night we got the Q2 report, which was pretty nice, and forward guidance of more revenue growth, which is also nice, so why did the shares fall by ~20% in two days in late June? Certainly not leaky info, because the news was good.
I think the shares are fairly illiquid, so if someone decides to buy 100,000 shares it will cause a big movement. But so far it's not clear to me that big price movements are based on leaky info, or something else. |
