Question
NM Inc. just won a lawsuit yesterday that awards it $1 million immediately. However, NM Inc. had an abnormal return of -1.6% yesterday. This suggests
NM Inc. just won a lawsuit yesterday that awards it $1 million immediately. However, NM Inc. had an abnormal return of -1.6% yesterday. This suggests that
| A. | the market is not efficient. | |
| B. | investors expected the award to be less than $1 million. | |
| C. | investors expected the award to be greater than $1 million. | |
| D. | NW' stock will continue to fall in value tomorrow. |
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Financial Times Guide To The Financial Markets
Authors: Glen Arnold
1st Edition
0273730002, 978-0273730002
