On Monday evening, Codina Model Steam Engine Company announced that it would be restating its financial statements

Question:

On Monday evening, Codina Model Steam Engine Company announced that it would be restating its for the past five years, and its CFO was arrested for fraud. Interpret the following Tuesday stock reactions:
a. Stock price drops
b. Stock price does not change
c. Stock price increases

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...