While that is true, they help in understanding, particularly the aspects which reflect the current situation and future prospects of the business. Even for investors, who have an idea about the sales, by observing on the ground, margins may look difficult to gauge. Not everyone can scuttlebutt, so the reports help.
They can present the overall environment of the industry or the sector, and as such, one can think of trimming the position, adding more, or even selling. Not that this is advisable to all kinds of businesses or to all kinds of investors, but they help in taking a decision.
Sold some in the up move, buying again, so take it with some salt.
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