The direct correlation between earnings reports and stock price movements is well-documented. Given that Forge Global Holdings reported worse-than-expected financial results for Q4, it's reasonable to expect a negative short-term impact on the stock price. This is because investors often adjust their holdings based on the financial health and future outlook of a company as reflected in its earnings reports. In this case, the disappointing Q4 results could lead to decreased investor confidence and selling pressure, driving the stock price down.