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When a firm announces an upcoming seasoned stock offering, the market price of the firm's existing shares tends to: increase. decrease. remain constant. respond, but

"When a firm announces an upcoming seasoned stock offering, the market price of the firm's existing shares tends to:" increase. decrease. remain constant. "respond, but the direction of the response is not predictable as shown by past studies." decrease momentarily and then immediately increase substantially within an hour following the announcement

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