Warning: In the Theratope case, the stock fell 42% the day of the announcement (19-Sep-2002) and fell another 30% the following day for a cumulative 2-day loss of almost 60%. By the end of the month, the stock had fallen 67% from its pre-announcement level.
“The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”