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Below is a picture of the average company reaction to CNBC reports. The 0 date is right when a particular news event is mentioned on

Below is a picture of the average company reaction to CNBC reports. The 0 date is right when a particular news event is mentioned on CNBC. The cumulative abnormal returns to the company are on the y-axis and minutes are on the x-axis. (4 points)

Does this picture support or contradict the Efficient Market Hypothesis? Discuss and justify your response

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