Post-earnings-announcement drift (PEAD) is a phenomenon in financial markets where a company's stock price continues to react to its earnings announcements over a period of time after the announcement has been made, rather than adjusting immediately and completely. This means that after a company releases its earnings report, if the results are significantly better or worse than expected, the stock price may drift upwards or downwards over the following days or weeks as investors continue to process the information and adjust their expectations.
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