Question: According to the efficient markets hypothesis ( EMH ) , if unexpected good news is announced related to Nike during the middle of the day,

According to the efficient markets hypothesis (EMH), if unexpected good news is announced related to Nike during the middle of the day, what typically happens to the share price of the stock? Choose the Best Answer
It gradually moves higher throughout the day.
It moves lower immediately, but then slowly rises throughout the day
It moves higher immediately and continues more gradually throughout the day
It moves sideways as unexpected news doesn't immediately imact stock prices

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