Stock Price Performance in the Covid-19 Era A Five-Phase Analysisglobal economy. The resulting volatility in stock prices has provided an opportunity to examine
the Efficient Market Hypothesis. This study aims to gain insights into the efficiency of markets
based on stock price performance in the Covid era. Specifically, it investigates the market’s
ability to anticipate significant events during the Covid-19 timeline beginning November 1, 2019
and ending March 31, 2021. To examine the efficiency of markets, our team created a Stay-at-
Home Portfolio, experiencing economic tailwinds from the Covid lockdowns, and a Pandemic
Loser Portfolio, experiencing economic headwinds from the Covid lockdowns. Cumulative
returns of each portfolio are benchmarked to the cumulative returns of the S&P 500. The results
showed that the Efficient Market Hypothesis is likely to be valid, although a definitive
conclusion cannot be made based on the scope of the analysis. There are recommendations for
further research surrounding key events that may be able to draw a more direct conclusion.]]>cauBrock, Matt IancauBeneduce, TrevorcauCraig, NickothsHertzel, MichaeldgcMindlin, JeffctbDepartment of FinancectbEconomics Program in CLASctbWPC Graduate ProgramsctbBarrett, The Honors Collegeenghttps://hdl.handle.net/2286/R.I.6390176 pages116192404171628716197147797mibrockIn Copyright2021-05COVID-19Stock MarketEfficient Market HypothesisFinance