aaa In an efficient market, when a firm makes an announcement that one of its investments has been unsuccessful and it will result in a negative NPV, the stock price will:

Group of answer choices

d) Decline on the same day to the new price that reflects the bad news in the announcement

a) Decline gradually over the next few days

c) Rise gradually over the next few days

b) Rise on the same day to the new price

e) Stay at the same price