Please do not use excel to solve this problem and complete all steps.

Which of the following is consistent with the efficient market hypothesis? OA. a company announces higher than expected sales and earnings. The stock price immediately increases O B. O C. 0 D. by 10% so- called value stocks outperform growth stocks a company announces higher than expected sales and earnings. The stock price remains unchanged stocks that have performed well over the past year continue to perform well for several more months