(Bloomberg) — As the old stock market adage has it, buy the rumor, sell the fact. For investors who bought shares of Denbury Resources Inc. early Monday, it might be buy the fake news release, sell on the official denial.At 5:51 a.m. New York time, a statement carried by press release service Accesswire and purporting to be from the Texan oil driller said the company received a takeover offer at $1.20 a a share.Denbury’s stock more almost tripled in pre-market trading, only to pare those gains after CEO Chris Kendall told Bloomberg News the release was “completely fraudulent.” The company …read more
Source:: Yahoo Finance
