The practice of selling a stock or other investment after good news is received. The thought behind this tactic is that the good news has already been priced into the stock and the next direction of the stock is likely to be lower. Selling on the good news may also tie in with “buy the rumor, sell the fact,” which describes the phenomenon of stocks or futures contracts that trade lower soon after the good news that was expected has been received.
Webster's New World Finance
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