Why evgn price going negative even after a positive news

Evogene (NASDAQ: EVGN) has experienced a decrease in stock price from October 22 to October 31, 2024, which can be attributed to several factors despite a positive news announcement on October 31, 2024.

1. Recent Performance: Evogene's stock price has been volatile, with a significant drop of 6.25% on October 22, 2024, followed by a slight recovery on October 24 and then a further decline on October 31, 2024. This indicates a general downward trend in the stock's price in the recent weeks.

2. Short Interest Increase: There has been a significant increase in short interest in Evogene, with a total of 26,800 shares shorted as of October 15, 2024, which is an 83.6% increase from the previous count. Short selling can sometimes be a sign of negative sentiment among investors, as it involves borrowing shares to sell them at a higher price in the future.
3. Analyst Ratings: Evogene has received mixed ratings from analysts, with Lake Street Capital decreasing its price target from $30.00 to $12.00 and setting a "buy" rating, while StockNews.com initiated coverage with a "sell" rating. Analysts' opinions can influence investor sentiment and trading activity.
4. Collaboration with Google Cloud: Despite the positive news of Evogene's collaboration with Google Cloud to develop a foundation model for generative small molecule design, which could potentially revolutionize product development in life sciences, the market may have already priced in the positive expectations from this partnership.
5. Market Conditions: The overall market conditions and investor sentiment can also impact individual stock performances. If there is a general downturn in the market or specific sector concerns, it can lead to selling pressure on stocks like Evogene.

In conclusion, the decline in Evogene's stock price despite the positive news could be due to a combination of factors including poor recent performance, increased short interest, mixed analyst ratings, potential market saturation or concerns, and broader market conditions.