RE:RE:RE:RE:Conference and lack of Video Presentation
I agree completely that the presentation of existing data is almost irrelevant to the day's trading. An institution will have done most of their due diligence online/over the phone just like you and me. However, there will be the subtle discussions and the nuances from seeing a representative face to face that can push someone off the fence, and this is why the event is of value to the parties involved.
I spoke to an oncologist the week before he headed to a conference in the states, and he said "here is what they are going to tell me down there", as the full data and analysis was already on the web. He was going to rub shoulders with the scientists and see what else he could find out. The formal presentation was almost a distraction. (his interests were clinical; not financial).
On the investment side, whether it is legal or not, there are shades of gray in disclosure, especially when one is talking "off the record" (in other words, they are not being taped or putting their comments in print for public discussion). I'm not suggesting IPL is better or worse than anyone else; I'm just saying generally the way it is in the investment world. I am aware of people getting "hints" about the efficacy or timing of results from clinical trials of other companies just by snooping around. Imagine what hints you could get if you had millions of dollars to offer as a potential investor.
(As an aside, in one of those cases I allude to, an oncology company was dropping heavy hints, then got the big investments they wanted, then released clinical trial results suggesting no benefit to their drug. So the institutional investor actually lost out in that case).
The bottom line, IMO, immediate market reactions are caused by press releases (like trial results). Presentations can also have an impact, but it is more likely to be gradual over the following days and weeks.