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Assume that a company announces unexpectedly low earnings in a particular quarter. A believer in the semi-strong form of EMH will expect ___________. a price

  1. Assume that a company announces unexpectedly low earnings in a particular quarter. A believer in the semi-strong form of EMH will expect ___________.
  1. a price decrease before the announcement
  2. a price decrease immediately after the announcement
  3. no price change before or after the announcement
  4. a price decrease every day for 30 days after the announcement

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