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A firm makes an unexpected announcement that losses of $10 million will be taken today, against a deal that was previously expected to provide profits
A firm makes an unexpected announcement that losses of $10 million will be taken today, against a deal that was previously expected to provide profits of $20 million. The firm has 10 million shares outstanding. If the market is semi-strong form efficient, what stock price reaction is expected? O No loss or gain, as the market is efficient O Unknown price impact, as the income impacts are unclear. O $1 per share loss O $2 per share loss $3 per share loss
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