GOOGL · PEAD ↑ 67

Print-day reaction was essentially flat at +0.05% versus the prior close — the AMC report landed too late for T+0 price discovery. The overnight gap to the T+1 open surged +6.9%, reflecting the market's first full-session response to the substantial earnings beat. Day 1-to-3 drift edged slightly lower at -0.40%, a modest consolidation after the gap, leaving the cumulative three-day return largely intact. Cumulative abnormal return of +8.68% versus SPY.US firmly clears the long threshold; per the documented PEAD pattern, the holding window runs through 2026-07-27.