George R. answered • 10/16/21
Master of Accounting, Adv. Literature and Comp., Elite Business Law
1. Weak-form efficiency: Current prices reflect all information derived from trading. This stock market information generally includes current and past stock prices and trading volume.
2. Semi-strong-form efficiency: Current prices reflect all public information. This includes all information that has already been revealed to the public, like financial statements, news, analyst opinions, etc.
3. Strong-form efficiency: Current prices reflect all information. In addition to public information, prices reflect the privately held information that has not yet been released to the public, but may be known to some people, like managers, accountants, auditors, etc
