How did BOLT's Q1 2024 EPS surprise impact short-term trading?

Bolt Biotherapeutics' (NASDAQ:BOLT) reported earnings per share (EPS) of -47 cents for the fourth quarter of 2023, which was above the analyst estimate of -48 cents. This positive surprise could have had the following impacts on short-term trading: 1. **Positive Reaction from the Market**: The stock may have experienced a positive reaction from investors who were optimistic about the company's financial performance. This could have led to an increase in the stock price in the immediate aftermath of the earnings release. 2. **Increased Investor Confidence**: The fact that BOLT's EPS exceeded expectations could have boosted investor confidence in the company's ability to manage its finances effectively. This increased confidence may have attracted more investors to the stock, potentially increasing demand and driving the price up. 3. **Short-Term Trading Activity**: The earnings surprise could have led to increased trading activity in the short term as investors adjusted their positions based on the new information. This could have resulted in higher volatility in the stock price as investors bought or sold shares based on their perceptions of the company's prospects. 4. **Long-Term Outlook**: While the earnings surprise may have had a positive impact on short-term trading, the long-term outlook for BOLT will depend on various factors such as the company's clinical trial progress, cash position, and overall business strategy. Investors should consider these factors along with the earnings surprise when assessing the stock's future performance. In conclusion, BOLT's Q1 2024 EPS surprise of beating expectations could have led to a positive reaction from the market, increased investor confidence, and boosted short-term trading activity. However, the long-term impact will depend on the company's continued progress and performance.