This makes sense to me as given a constant rate if information per hour from world markets and the world in general, there will be more information outside of trading hours than within them.
I'm not sure there is "more information" about the value of a stock. There is only newer information.
The new information during the night can tell us "Hey the price should be higher" but then more information coming in later can cancel the previous good news.
The new information during the night can tell us "Hey the price should be higher" but then more information coming in later can cancel the previous good news.