Fig. 7
From: The game of lies by stock investors in social media: a study based on city lockdowns in China
Research framework. Note: \({p}_{-1}^{wuhan}\) denotes the 47 trading days before the lockdown in Wuhan. \({p}_{0}^{wuhan}\) denotes the 47 trading days during lockdown in Wuhan. \({p}_{1}^{wuhan}\) denotes the 47 trading days after the end of the lockdown in Wuhan. \({p}_{-1}^{Shanghai}\) denotes the 38 trading days before the lockdown in Shanghai. \({p}_{0}^{Shanghai}\) denotes the 38 trading days during the lockdown in Shanghai. \({p}_{1}^{Shanghai}\) denotes the 38 trading days after the end of the lockdown in Shanghai. \({p}_{2}^{Shanghai}\) denotes the second 38 trading days after the end of lockdown in Shanghai