Investors, operating under the expectation that James would select the knicks as his preference, had bid up the company's stock price. After espn reeports the stock price fell by nearly four percent on the day, after the previous day's surge of 6.4 percent rally added nearly $100 million to the company's market value.

If markets are strong form efficient the current prices of the financial assets reflects what type of information?

A. Both public and private information

B. Private information only

C. Public information only

D. None of these

If markets are semi-strong form efficient then stock prices will move ____________ when new relevant positive non-price information is released.

A. laterally

B. higher

C. Lower

D. none of these

If markets are weak form efficient then stock prices will move _________ when new relevant positive non price information is released.

A. lower

B. higher

C. laterally

D. none of these