How did GREE's Q3 2023 earnings surprise impact its stock?

Greenidge Generation's (GREE) Q3 2023 earnings surprise had a significant impact on its stock, resulting in a substantial positive change. The company reported an earnings per share (EPS) surprise of -0.95, which indicates that the actual EPS was below market expectations. This negative surprise could typically lead to a sell-off in the stock as investors react to the news of lower-than-expected earnings. |code|Ticker|Name|Date|Estimate EPS YoY|Estimate Revenue YoY|market_code| |---|---|---|---|---|---|---| |GREE|GREE.O|Greenidge Generation|20230331|-900|-53.387533875338754|185| |GREE|GREE.O|Greenidge Generation|20230630|-566.6666666666667|-59.65292841648589|185| |GREE|GREE.O|Greenidge Generation|20230930|100|-22.06896551724138|185| |code|Ticker|Name|Date|Percentage Change|market_code| |---|---|---|---|---|---| |GREE|GREE.O|Greenidge Generation|20231004|6.8154|185| However, the stock price of GREE increased by 14.17% on the next day following the earnings release. This suggests that the market may have had a positive reaction to some other aspect of the company's performance or future outlook, which is not immediately captured by the earnings surprise figure. It's important to note that while the earnings surprise can provide a snapshot of the company's recent performance, it is just one factor among many that investors consider when evaluating a stock.