You do a study and find out that on average stock prices forfirms decrease 3% fo

You do a study and find out that on average stock prices forfirms decrease 3% for every 5% decrease in inside ownership. Youare watching the nightly business report and find out that MagicTapes stock has announced that insiders have sold 10% of theirholdings. You are concerned because you own 1000 shares of MagicTape and it had closed the day before unchanged at $30 per share.If markets are at least semi-strong form efficient what would youexpect?A. You would expect Magic Tape to close at $28 the day of theannouncement.B. You would lose $1800.C. You would lose $2.00 per shareD. You would lose $4000.