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You have placed an order to purchase 260 shares of every IPO that comes to market. The next two IPOs are each priced at $25 a share and will begin trading on the same day. You are allocated 55 shares of IPO A and 260 shares of IPO B. At the end of the first day of trading, IPO A was selling for $43 a share and IPO B was selling for $23 a share. What is your total profit or loss on these two IPOs as of the end of the first day of trading?

Options:

$470

$1,845

–$50

$8,345

$1,265

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M91618136

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