New to trading stocks. Can’t help but notice that almost every time there’s a big SEC filing for a big company, the “move” occurs anywhere from minutes, to hours, to even days before the form is filed with the SEC, let alone before articles start popping up.
Case in point, today there was a less than stellar earnings report filed for Philip Morris. The stock tanked at around 7:00am, but the 10-k form wasn’t filed until 7:10.
[Chart screenshot](https://ibb.co/kBLLp4C)
It’s kind of a mild example, but I see this all the time to a much greater degree. Is somebody on the inside trading or informing others about upcoming filings? Or is there some other explanation for this?
