Not necessarily. Take a look at today's pps movement and be alert for a possible repeat tomorrow, barring any overnight or pre-trade pr. If it pulls back, get in. It will move in anticipation of contract announcements.
And unlike the 'sell on good news' scenarios we often see, expect continued run in pps because of the probable length and breadth of the clean up efforts that will be required.
To illustrate what can happen with an announcement take a look at MOPN, and keep an eye on how it opens tomorrow for an additional play:
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