SGrammer Inc. had a bad year due to the pandemic. The companys earnings decrease by 9%. However, on the day of earnings release, there is no obvious share price reaction to the earnings announcement. An analyst states that most companies perform poorly during the pandemic and SGrammer Inc. did not perform worse than others. Therefore, the stock market did not penalize the company by bidding down its share price. Provide your view of the analysts statement. Specifically, do you agree or disagree with the analysts explanation of the absence of market reaction to earnings news? Is there another reason (or other reasons) that explains the absence of stock market reaction?