Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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1
Robert placed an order with his broker to purchase 500 shares of each of three IPOs that are being released this
month. Each IPO has an offer price of $21 a share. The number of shares allocated to Robert, along with the closing
stock price at the end of the first day of trading for each stock, are as follows:
Stock
A
B
с
Shares End of Day 1
Allocated
220
450
175
What is his total profit or loss on these three stocks as of the end of the first day of trading for each stock?
Multiple Choice
$639.50
-$369.50
-1,350.00
$572.00
Price
$ 23.60
18.00
29.10
$1,370
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Transcribed Image Text:1 Robert placed an order with his broker to purchase 500 shares of each of three IPOs that are being released this month. Each IPO has an offer price of $21 a share. The number of shares allocated to Robert, along with the closing stock price at the end of the first day of trading for each stock, are as follows: Stock A B с Shares End of Day 1 Allocated 220 450 175 What is his total profit or loss on these three stocks as of the end of the first day of trading for each stock? Multiple Choice $639.50 -$369.50 -1,350.00 $572.00 Price $ 23.60 18.00 29.10 $1,370
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