Genie Corporation recently declared a three-for-one stock split.Before the split the stock was worth $100 per share.If you owned 100 shares before the split occurred,you now own ____ shares worth approximately ____ per share.

Question

Quizplus · Accepted Answer

In a three-for-one stock split, each share is split into three, so owning 100 shares before the split would result in 300 shares after. The total value remains the same, so the $100 per share before the split becomes approximately $33 per share after (100 * $100 = 300 * $33).

Genie Corporation Recently Declared a Three-For-One Stock Split