Contagious Speculation And A Cure for Cancer : A Noneevent That Made Stock Prices Soar  

Oleh:

Huberman, Gur ; Regev, Tomer

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: The Journal of Finance (EBSCO) vol. 56 no. 1 (2001), page 387-396.
Topik: STOCK PRICES; stock prices; securities markets; statistical analysis; studies; biotechnology; effects
Fulltext: p 387.pdf (211.64KB)

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Perpustakaan Pusat (Semanggi) Nomor Panggil: JJ88 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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A Sunday New York Times article on a potential development of new cancer - curing drugs caused EntreMed's stock price to rise from 12.063 at the Friday close, to open at 85 and close near 52 on Monday. It closed above 30 in the three following weeks. The enthusiasm spilled over to other biotechnology stocks. The potential breakthrough in cancer research already had been reported, however, in the journal Nature, and in various popular newspapers more than five months earlier. Thus, enthusiastic public attention induced a permanent rise in share prices, even though no genuinely new information had been presented.

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