Alicia placed an order with her broker to purchase 500 shares of each of three IPOs that are being released this month.Each IPO has an offer price of $16 a share.The number of shares allocated to Alicia along with the closing stock price at the end of the first day of trading for each stock,are as follows: What is Alicia's total profit or loss on these three stocks as of the end of the first day of trading for each stock?

Question

Alicia placed an order with her broker to purchase 500 shares of each of three IPOs that are being released this month.Each IPO has an offer price of $16 a share.The number of shares allocated to Alicia along with the closing stock price at the end of the first day of trading for each stock,are as follows:  What is Alicia's total profit or loss on these three stocks as of the end of the first day of trading for each stock?

Quizplus · Accepted Answer

Profit = 100($27.50 - $16) + 250($16.70 - $16) + 500($14.10 - $16) = $375

Alicia Placed an Order with Her Broker to Purchase 500