Acme National Inc. just released its quarterly earnings results. The consensus on The Street was...
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Accounting
Acme National Inc. just released its quarterly earnings results. The consensus on The Street was that the firm would earn $2 per share. However, it turns out that the firm only earned $.50 per share. According to EMH, we would expect the price of Acme shares to:
a) drop immediately
b) unable to determine
c) increase immediately
d) gradually decline for the next several weeks
e) gradually increase for the next several weeks
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