To test whether a stock price reflects all the available information around a corporate event such as stock split (which has to do with market efficiency), we have considered during class hours the effect of the announcement on March 28, 2022 by TSLA to conduct a new stock split. The results show that this announcement led to an abnormal return in TSLA stock price on the event day and 5 days later.

You are required to assess the impact of similar announcements on the stock price of another company, as indicated in the below table. Please do it on Excel (15 points). Then, summarize your findings and provide the needed explanation and discussion.

Company name: American Rebel Holdings Inc

Symbol: AREB

Announcement date: 2/4/2022