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Picked a 3pm press release over a 9am one in 2019 and ate dirt on the earnings story
Back when I ran comms for a mid-size logistics company in Denver, I had to pick between sending our earnings release at 9am with the market open or holding it until 3pm after close. My CFO pushed hard for 9am because he wanted the bump right away, so I caved even though our IR advisor told me twice to wait until after the bell. The stock popped 4 percent by lunch, then a competitor dropped their own numbers at 2:40 and we gave all of it back plus some. I spent that whole evening on the phone with two reporters who both asked why we'd rushed it out, and I didn't have a good answer. These days I hold everything until after close, but I still wonder if there's a case for the morning slot I'm missing. Has anyone had a morning release actually hold up through the afternoon?
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