Would a stock by any other ticker smell as sweet? |
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Authors: | Alex Head Gary Smith Julia Wilson |
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Institution: | Department of Economics, Pomona College, Claremont, CA 91711, United States |
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Abstract: | Some stocks have meaningful ticker symbols; for example, LUV (Southwest Airlines), MOO (United Stockyards), and GEEK (Internet America). Such tickers might be a useful signal of the company's creativity, a memorable marker that appeals to investors, or a warning that the company feels it must resort to gimmicks to attract investors. This paper investigates the performance of stocks with memorable ticker symbols during the years 1984–2005 and finds that, on average, their daily returns are higher than for the overall market. |
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