Multiple Choice
Isaac placed an order with his broker to purchase 300 shares of each of three IPOs that are being released this month.Each IPO has an offer price of $24 a share.He received allocations of 300 shares of A,25 shares of B,and 250 shares of C.On their respective first days of trading Stock A closed at $20 a share,Stock B closed at $29 a share,and Stock C closed at $25 a share.How much less did he earn on his combined first day of trading than he would have had he received his full allocation of shares for all three stocks?
A) −$1,440
B) -$1,375
C) -$1,500
D) -$1,425
E) -$1,225
Correct Answer:
Verified
Correct Answer:
Verified
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