Teja is a buy-side analyst covering the furniture industry. He analyses several furniture makers by studying their financial reports and visiting their operations. He also talks to some designers and retailers to find out which furniture styles are trendy and popular. Teja determines that one of the companies may be in financial trouble. The company recently introduced extravagant new designs at substantial cost, but the public is now buying more conservative furniture from other makers. Based on this information and on a profit-and-loss analysis, Teja predicts that the company's next quarter earnings will drop substantially. He therefore issues a "sell" recommendation to his clients. His conduct is (Choose the best answer.) (No answer given) unacceptable if he does not make his analysis public. none of the choices. unacceptable because the recommendation is based on material non-public information. acceptable because his analysis informed the recommendation