Multiple Choice
Danielle placed an order with her broker to purchase 400 shares of each of three IPOs that are being released this month.Each IPO has an offer price of $22 a share.She received allocations of 320 shares of A,0 shares of B,and 400 shares of C.On their respective first days of trading,Stock A closed at $23 a share,Stock B closed at $39 a share,and Stock C closed at $17 a share.What is her combined total first-day profit or loss on these three IPOs?
A) -$1,680
B) -$1,220
C) −$780
D) $1,020
E) $5,200
Correct Answer:
Verified
Correct Answer:
Verified
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