Pre-announcement run-up and post-announcement pullback
Are companies that rose sharply before results prone to giving back gains?
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Sample JSON
Specification JSON
Sample as of
0700.HK Tencent Holdings | Hang Seng Index | 2025-10-16 – 2026-10-16 | HKD
- Highest item: High run-up, strong reaction
- 1.3 %
- Lowest item: Low run-up, pullback
- 0.16 %
- Average
- 0.53 %
- Number of items
- 4 items
Main chart: first-day return after announcement (%), ordered by 20-day excess return before announcement (%)
First-day return after announcement (%) (Scatter)
Supporting chart: EPS surprise and sample size
20-day excess return before announcement (%) (Bar)
Detail: data rows, observation dates and missing-value status for the pre-announcement run-up and post-announcement pullback
First-day return after announcement (%) and 20-day excess return before announcement (%) (Table)
Sample data rows
| 20-day excess return before announcement (%) | First-day return after announcement (%) | 20-day excess return before announcement (%) | Data date (sample) |
|---|---|---|---|
| Low run-up, strong reaction | 0.28 | -8.59 | 2026-10-16 |
| High run-up, strong reaction | 1.3 | 7.38 | 2026-10-16 |
| Low run-up, pullback | 0.16 | 30.28 | 2026-10-16 |
| High run-up, pullback | 0.36 | 3.26 | 2026-10-16 |