Innovation Pharmaceuticals Inc (IPIX)

[scottsmith]

I made like a judge and yanked out Webster's from the depths of Google for this one (I'm holding Black's in reserve for any counter . According to that source, the first definition of ignore is "refuse to take notice of or acknowledge; disregard intentionally."

So after the company issued news, the price per share immediately rose nearly one dollar. Under the definition provided by Mr. Webster I don't believe the market ignored the news, do you? Or was the price increase of 30 something percent directly after material news simply a coincidence and maybe the material news really was ignored?

If I understand your argument, the definition of ignore would mean that the share price didn't hold its gains. If that's the working definition, then yes. But if that's the definition then it can be argued that most (all?) news from pre-revenue bio-techs is ignored by the market.

I am not going to post links to charts that prove my point because I'm somewhat lazy and about to go play golf. But I think it would be no trouble for anyone to find myriad examples of biotech's that released excellent news, had a PPS surge, and then lost most of those gains.