/biz/ - Business & Finance

i went through half a dozen random blue-chip stocks, and compared their earning reports, specifically how reports affected the price.
I was focused on 2019, and less so on 2020, because in 2020 we have covid19 and every spaz loved to preach
>wtf, clown market, fuckin noobs - poor earning reports, but stock went up, go figure, MUH FUNDAMENTALS ARE NOT BEING OBEYED. MUH FUNDAMENTALS
etc
So I was looking at correlation - on one hand how good were the earning compared to estimates, on the other how did the market react short term (few days) or long term.

What I've seen
There is no correlation. Sometimes it went down, sometimes up, sometimes crab, after an equally positive report, randomly. It's even worse longterm, the earnings date doesnt seem like any kind of inflection point. Us humans are prone to look for patterns, so I'm sure world is full of fags who will look at the same statistical noise and believe there's a pattern, and ignore the data it doesnt suit them. But there was no pattern.
So I know that all the fags that complain about this happening in 2020 are fags, basing their expectations on their own bullshit.
So the question is
If earnings report don't make a difference, they why do stonk go up or down?