The share price dropped 5% before the profit warning was released. It raises the question of whether it makes sense for anyone to invest in this outfit if insider information leaks to family members and relatives so easily and for such marginal pennies. Even now, some retail investor might have had a buy order at €14.40, which was a perfectly reasonable price based on publicly available information from previous days, and which might have been filled even without the profit warning. As a reward for the retail investor’s “cleverness,” the buy order went through, and 3 hours later, a profit warning was issued and they took a 5% hit. Of course, by paying a roughly 2% premium (a low-liquidity stock), the buy order would have gone through immediately and this would have been avoided, but then again, who would buy stocks at all if trading costs were always 2% and then some.
This is something for the Financial Supervisory Authority (Finanssivalvonta) to investigate. My own guess is that no honest actor sold the stock below €14.20 before the profit warning was released, but I can’t prove it.