Given that Hayes was down by 98 percent for 1998, why did some investors hold the stock?

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Given that Hayes was down by 98 percent for 1998, why did some investors hold the stock? Why didn’t they sell out before the price declined so sharply?

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Fundamentals of Corporate Finance

ISBN: 978-0071051606

8th Canadian Edition

Authors: Stephen A. Ross, Randolph W. Westerfield

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