Using your anology, on June 22 before market opened there must have been a buy bottom placed at 47 cents.
Oddly 3 hours later TofR was announced as given, so there was prior knowlege by many. 10 days earlier price was in the high 30s, so there was no reason for the sp rise in between UNLESS! more of same.

sure there was prior knowledge by many, since Al Coutts said it at the AGM very explicitly: the ToR are coming.

What I found odd was rather that we didn't see more price action before the day of the official announcement.