The answer is not (b) (second answer)

25 points Which statement best describes the evidence of stock price changes around earnings surprises? When a firm release a positive earnings surprise, the stock price tends to go up quickly by the correct amount. When a firm release a positive earnings surprise, the stock price tends to go up quickly, and by too much, thus needing to "correct" a few days later. When a firm release a positive earnings surprise, the stock price tends to move in the wrong When a firm release a positive earnings surprise, the stock price tends to go up quickly but by somewhat les the correct amount