Speculation? i.e. if its been on a down trend, and an announcement is coming, it's a speculative bet that the announcement would be something positive. So you buy in at the low, wait for the announcement, then close out at the bump high, profit.

This works for companies, they have poor performance, then CEO says I have a speech to make, it's a good bet he will be reorganising to address the poor performance, so you can buy in ahead of that, and sell out after the bump. It's a risky move, but such situations have historically expected positive value.