Backtest
The backtest results show that FIZZ experiences modestly positive performance after earnings beats, with a 66.67% win rate at 10 and 30 days despite a slight initial dip. Average returns peak at 1.48% over 10 days but remain nearly flat by 30 days. This suggests limited immediate gains but a moderate chance of positive returns over the medium term.
In contrast, the broader Beverages Industry shows minimal price response to earnings beats, with a maximum return of 1.76% after 13 days, indicating weak correlation between beats and stock performance sector-wide.
Investors might favor holding FIZZ shares for at least 10 days post-beat to capture potential gains, while being cautious about expecting similar returns from the overall industry.
