PLAB · PEAD ↓ 80

Photronics reported Q2 FY2026 EPS of $0.42 on 2026-05-28, missing the $0.53 consensus by $0.11 (-20.8%).

Print-day reaction was -36.4% versus the prior close, a severe single-session collapse that wiped the stock well below its pre-earnings range. The overnight gap to the T+1 open recovered a marginal +1.2%, indicating no meaningful after-hours stabilisation. Over the subsequent two trading sessions the stock drifted a further -2.4% lower, confirming the selloff had no substantive buyers stepping in. Cumulative abnormal return of -39.3% versus SPY.US firmly places this in PEAD short territory; the drift continues to confirm the initial reaction, with the holding window running through 2026-08-25.