Meta just announced yesterday that its second quarter sales were $25\%$ higher than last year's

second quarter. You observe that Meta had an abnormal return of $-2\mathrm{.}5\%$ yesterday. This

suggests that

Meta stock will probably rise in value tomorrow.

the market is not efficient.

stock will probably rise in value tomorrow.

investors expected the sales increase to be larger than what was actually announced.

earnings are expected to decrease next quarter.