Question: It has been observed that stocks that earned returns at least 2% more than their risk implied in the past week, continue to earn positive

It has been observed that stocks that earned returns at least 2% more than their risk implied in the past week, continue to earn positive alpha (that is return greater than their risk implies) the following month. This is a violation of:

weak form EMH

semi-strong form EMH

strong form EMH

none of the above

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