Thank you for your response and adding on. I was not familiar with the different variations to the hypothesis, however, after doing some research I was able to know some differences between each of the EMH levels. From my understanding, the weak form states that current prices reflect all past market prices and data, while the semi-strong form incorporates all available public information along with past market prices and data. Lastly, the strong form accounts for all of this including private information as well. Which form of market efficiency do you believe in personally