Books Ltd., a highly liquid traded, large and widely followed by analysts company trades on...

60.1K

Verified Solution

Question

Accounting

Books Ltd., a highly liquid traded, large and widely followed by analysts company trades on the Shelf Exchange. Two days ago, at 17:00, after the closing of the markets, its shares traded at $15 apiece. At the same time, the company issued a statement and sent out a press release indicating that the company expects to make a somewhat unexpected loss in the current financial year. Yesterday, the share price remained at $15 and today it is still at $15.
There were no other major macro-economic, market related or company specific developments that would have affected the company and the market was mostly flat over the day. are they..
a.Perfectly efficient
b.Somewhat efficient
c.Inefficient

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students