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Postearnings-announcement drift is the tendency for a stocks cumulative abnormal returns to drift in the direction of an earnings surprise for several weeks (even several

Postearnings-announcement drift is the tendency for a stocks cumulative abnormal returns to drift in the direction of an earnings surprise for several weeks (even several months) following an earnings announcement. This is evidence against which form of market efficiency?

a) All forms

b) Semi-strong and strong form

c) Strong form

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