Should Media Continue To Spin News To Drive A Stock Up?

Yup.. the media publishes the According To Sources spin, the stock flies, the company denies and very soon, the stock falls back down.

And over time... everyone forgets all about it... how the media helped push up the stock.

On Bursa website: Eastern & Oriental Berhad ("E&O" or "the Company") Article in The Edge, 2 August 2010, "Are E&O shareholders looking at privatisation?"

• We refer to the article entitled "Are E&O shareholders looking at privatisation?" published in The Edge on 2 August 2010.
  
  E&O would like to clarify that the Company has not received any notice from any of its shareholders pertaining to plans to privatise the Company. The Company is also not aware of any such plans by any of its shareholders.
  
  This announcement is dated 2 August 2010.

Let's look at how the E&O fared yesterday.

The stock of course opened GAP up, with a 6 Sen Gain!

Many thanks to the power of the pen!

Glee!

It would be nice if the Bursa have a look at why the Edge constantly publishes such news and oh, do check out if the author constantly pens such articles.

PS... in regards to yesterday trading....

ps: The media publishes the article in the weekend and the very first thing the stock does is to open gap up with higher than normal volume. Go figure that out.

ps/ps: if the stock markets is a sport, would you score this as an assist for the media?