Proof that the stock market has been expecting a lot worse 🤯
Companies missing earnings estimates are watching their stock prices rise 📈
So far, it’s been an unusual earnings season marked by some counterintuitive moves in the stock market.
“What stands out about the current earnings season is that the average company missing consensus profit estimates has seen its share price rise,” Keith Lerner, co-CIO and chief market strategist for Truist Advisory Services, wrote in a research note Wednesday. “This is the first time this has occurred over the past five years.”
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