1. Breach disclosed on a Friday. 2. The data about 500m people DOES NOT belong to their guests, but to Marriott. They have every right to allow it be compromised. 3. Breach unlikely to be costly, and affect stock price. 4. Other hotel chains should consider incident response.https://twitter.com/MarriottIntl/status/1068460980621971456 …
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To make sure we're on the same page, my theory is you buy following an announcement proportional to the size of the reaction, then sell at the pre-announce price (or where it would be if it followed the broader market). Based on those notes, it seems like it beat the market?
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e.g. let's say you invest $1 per basis point loss after a breach announcement, just to keep math simple. Multiply by the size of the reaction, so a 5% dip means you invest $500, then sell when the stock recovers to the price it would be if it had followed the sector.
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