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In a perfect world, it would perhaps be illegal. Unfortunately, this is FAR from a perfect world. It happens all the time with the smaller stocks. Many folks wait until they see volume pick up and then make their decision to buy or sell, once the news is announced, it's time to get out. What's that silly expression, buy on rumour, sell on news? Something like that. Good and, perhaps more importantly, bad news seems to be known by some well before the "public". BTW, I am not suggesting information is released improperly by management, many parties are involved in M&A activities, as well as other types, and many people are in the know. |
