In November 2015, the Wall Street Journal reported that nineteen people in Washington became sick after eating at Chipotle, along with another four people in Oregon. The return to Chipotles stock on the day of this announcement was -1.3%. Suppose the Beta of Chipotles stock is 0.72, the Alpha is 0.5%, and the return to the S&P500 on the day of the announcement was 1.5%. Calculate the abnormal return to Chipotles stock from the announcement of this news.

-2.88%

0.38%

-3.78%

-0.87%