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cassandra_dan cassandra_dan
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7 months ago
During January and February, the stock of Pigeon Couriers was trading at about $25. On March 1, the stock price began to rise until it hit $35 on March 14. On March 15, the company disclosed that earnings were up an unanticipated 15% compared to last year, and the stock price did not change. Explain how, in an efficient market, this is possible.
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Corporate Finance

Corporate Finance


Edition: 5th
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kayekalicokayekalico
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cassandra_dan Author
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Good timing, thanks!
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