Case study: Bellus Health Inc. (NASDAQ: BLU) - Stockgeist

On July 6, 2020, the share price of Bellus Health Inc. (NASDAQ: BLU) opened at 13:30 (UTC) 69% down with respect to the closing price on July 2, 20:00. This followed the company’s announcement that a phase 2 trial of BLU-5937 as a treatment for refractory chronic cough had missed its mark.

In the period from June 30, 2020 18:00 to July 5, 2020 23:00, StockGeist displayed most of the time just 1-2 messages per hour related to BLU. Then, on July 6, at 12:00 the number of messages jumped to 39. One hour later it increased to 122. This increase in the activity of social media was evident before the NASDAQ opening time at 13:30.