RE: GXSThe theory is that the whole entire market is in the toilet right now. The TSX broke 15k on June 18th and is now below 13,400, a little further and it is down YoY.
The DOW has also taken quite the haircut. It is barely trading above 11,000, it's lowest level in two years.
To sum it up, the market is bearish.
But sometimes with great news stocks can be moved. Everyone is expecting news of something like 1.1km away they hit coal again. They already had holes spaced by 1km.
Tell them something they don't know. Such as, we drilled a hole 10 km away or even 5 km away and hit 30m of coal. You will see +SP then for sure.
Not to mention the news wasn't released yet either. Just rumor for now.