Evaluate whether you think the claimed conclusion of the following scenario is true or

Evaluate whether you think the claimed conclusion of the following scenario is true or
false: A friend of yours has discovered a striking predictability pattern in stock returns:
stocks that recently decline below $5 in the past week tend to outperform the market
the following week. Therefore, this finding violates the No Free Lunch condition of
efficient markets and hence indicates that the market is inefficient.