Flukey Gold Mines makes an unexpected announcement regarding gold production at 2.20 p.m. Shares of the company were traded at 12 p.m., 2.10 p.m., 2.30 p.m. and 4 p.m. If the market for Flukey Gold Mines' shares is efficient, then at which trade will the newly established share price fully reflect the new information?

2.10 p.m.

12 p.m.

on the opening of the next trading day

2.30 p.m.

4 p.m