Public announcement of earnings news that makes the company worth $5 more according to average investor. It takes a few days for the company's stock price to go up by $5, so the market is efficient.

Group of answer choices

False. Prices should never change under the EMH.

True. Eventually, the price reflects available news, implying efficiency.

True. Information availability always impact prices.

False. Prices should reflect all available information, so delayed price movement implies inefficiency