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The Food and Drug Administration (FDA) just announced yesterday that they would approve a new cancer-fighting drug from King. You observe that King had an

The Food and Drug Administration (FDA) just announced yesterday that they would approve a new cancer-fighting drug from King. You observe that King had an abnormal return of 10% yesterday. This suggests that

A King stock will probably fall in value tomorrow.

B the approval was already anticipated by the market.

C the approval was not anticipated by the market.

D King stock will probably rise in value tomorrow.

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