During the three-year time period up through the end of 2002, by most measures Home Depot had consistently outperformed Lowes. Yet over that same period, Home Depots stock price dropped by about half, while Lowes stock price essentially doubled.

This case is yet another illustration how a firms valuation depends on the:

Group of answer choices

intense competition for anyone operating in the publishing business.

fickleness of financial analysts, unless properly managed by the firms PR department.

importance for the two dominant firms in a market segment to work in unison.

financial markets expectations about future, go-forward results, not the past per se.

none of the above