The initial market reaction on the quarterly earnings report of California Resources (CRC) was extremely positive.
Source: Seeking Alpha Website November 3, 2019
The stock jumped considerably on the favorable news that California Resources posted a large amount of earnings for the third quarter of 2019. However, the actual information provided by the news release paints a very different picture from the cheery headlines. Once the 10-Q is posted and investors begin to read the financial notes, then more bad news is likely to come to the attention of Mr. Market.
Notice that