Does the Market Misprice Companies’ “Strategic Alternatives” Announcements?
Reynolds Holding
FEBRUARY 5, 2023
In a new article, we explain how the market misprices the news so severely. Questioning the Status Quo The traditional theory of financial markets is the efficient market hypothesis (EMH), which holds that all news is factored into stock prices immediately and correctly, on average. We find no evidence for this possibility.
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