On may $82001,$ the financial post reported $$the street turns against canadian tire.$$ canadian tire corporation, ltd$.$s share price had risen by $0\mathrm{.}75$ to $24\mathrm{.}90$ on may $22001,$ following a news release in which wayne sales, president and ceo at the time, said, $$we are pleased with our ability to deliver double digit growth...$$ canadian tire $$s reported earnings of $0\mathrm{.}37$ per share exceeded analysts$$ expectations. The market soon learned, however, that reported earnings include an $8$ million one$-$time gain on sale of certain canadian tire assets. Without this gain, earnings were $0\mathrm{.}29$ per share, $6$ percent below earnings for the same quarter of $20000.$ Canadian tire$$s share price quickly fell back to $22\mathrm{.}95.$ The post reported that $$passing off$$ a one $-$time gain as part of operating earning s $$didn$$t fool or impress analysts$$ and is something they $$hoped not to see again$$

use efficient securities market theory to explain the rise in canadian tire's share price on may $2,02001$ and the raid subsequent fall in share price

was canadian tire correct in including the $8$million net income $?$ explain

Discuss the persistence of canadian tire$$s reported net income of $$0\mathrm{.}37$ per share $($no calculations required. does the fact that mr$.$slaes ignored the one$-$time gain in his press release after your evaluation? explain why or why not