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Based on the semi-strong form of the efficient market hypothesis, which of the following statements is (are) correct? I. Investors who purchase stock immediately after

Based on the semi-strong form of the efficient market hypothesis, which of the following statements is (are) correct? I. Investors who purchase stock immediately after an announced stock split will obtain significant increases in the value of their investment. II. Stock prices adjust very rapidly to new publicly available information.

a. I only

b. II only

c. Both I and II

d. Neither I nor II

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