Just got this email:
“A new study from the University of Miami and USC that finds that, on average, a bad product review by The Wall Street Journal’s Walter Mossberg causes a firm’s stock price to fall 5% right after his column… while a good review causes the firm’s price to jump 10%. The study looked at product reviews involving more than 400 firms over a ten-year period. On average, firms with bad product reviews saw stock losses of $200 million, while those with positive reviews saw gains of $500 million.” The full study is to be released next month.
Update: Here’s the link. (Thanks J. Garfunkel)