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Category > Business & Finance Posted 15 Jul 2017 My Price 12.00

When the 56-year-old founder

When the 56-year-old founder of Gulf & Western, Inc., died of a heart attack, the stock price jumped from $18.00 a share to $20.25, a 12.5-percent increase. This is evidence of market inefficiency, because an efficient stock market would have anticipated his death and adjusted the price beforehand. Is this statement true or false? Explain.

2. On January 10, 1985, the following announcement was made: “Early today the Justice

Department reached a decision in the Universal Product Care (UPC) case. UPC has been found guilty of discriminatory practices in hiring. For the next five years, UPC must pay $2 million each year to a fund representing victims of UPC’s policies.” Should investors not buy UPC stock after the announcement because the litigation will cause an abnormally low rate of return? Why?

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Status NEW Posted 15 Jul 2017 09:07 AM My Price 12.00

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