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In an efficient market (semi-strong form) when a firm makes an announcement of a new product or product enhancement with superior technology providing positive NPV,

In an efficient market (semi-strong form) when a firm makes an announcement of a new product or product enhancement with superior technology providing positive NPV, what will happen to the price of the stock? If an analyst can identify mispriced stocks by looking at last one month data and compare it with the same period last year. What does this tell us about the market efficiency?

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