BaggersNever buy on good news ,unless you are in very fast. Best to wait a day or so ,if you like the stock, and avoid an early loss. Day traders pile in on news and have no plan to stay in. They grab a quick profit and exit.
Happens all the time and affects almost every stock in the venture market. The only cure is for the market to place a restriction on selling shares after a purchase. They would only need to force buyers to hold shares for a few days before they can sell. This would fix the problem but it will never happen, so best wait after a news release for the price to settle.
Unless you are a fixture at your trading desk ,very hard to beat the guys making a living off retail investors who buy on news.