Select a true statement.

		When the newly issued shares are efficiently (fairly) priced, there should be no price adjustments in the days following the issuance date.
		When the newly issued equity is underpriced, existing shareholders gain at the expense of new shareholders.
		Under efficient capital market, finanical managers can 'time' the market by issuing overpriced equity.
		When the newly issued equity is overpriced, there should be upward price adjustments in the days following the issuance date.
		Under efficient capital market, technical analysis is an effective tool to predict stock prices.