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If an investor observes a stock that experienced a price increase before an announcement of new information, as shown in the figure below, what can

If an investor observes a stock that experienced a price increase before an announcement of new information, as shown in the figure below, what can he or she conclude? Stock Price Time Announcement Date O The market is strong form efficient. O The market is not efficient in any form. O The market is not weak form efficient. O The market is semi-strong form efficient

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