The Stock Price of PHRM Declined by 30% When the FDA

Multiple Choice

The stock price of PHRM declined by 30% when the FDA did not approve a promising new therapy the company was developing. Patrick holds on to the stock and constantly searches the internet looking for favorable stories about the company while ignoring a cascade of negative reports. This is an example of

A) anchoring.
B) overconfidence.
C) belief perseverance.
D) narrow framing.