How did NU's Q1 2024 earnings surprise impact short-term trading strategies?

Nvidia's (NU) Q1 2024 earnings beat expectations had a positive impact on short-term trading strategies, with the earnings surprise event driving the market's optimism. The backtest data shows that earnings beat expectations led to a maximum return of 2.95% over the entire market, occurring on the date of the earnings release. This suggests that investors who reacted to the earnings news by buying the stock or related tech stocks could have earned short-term profits.