Case study: Amgen (NASDAQ: AMGN) - Stockgeist

Shares of Amgen (NASDAQ: AMGN) jumped 8.4% just after 19:00 (UTC) on July 1, 2020. This came after a U.S. appeals court ruled in Amgen's favor in a case challenging the validity of two patents for an immunology drug. In the period from June 28, 2020 19:00 to July 1, 2020 14:00, StockGeist displayed on average just 1-3 messages per hour related to AMGN. Then, at 15:00 the number of messages jumped to 24. Therefore, the spike of activity in social media occurred a couple of hours before the share price of AMGN shot up.