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A sophisticated investor, B. Graham, sold 300 shares short of Amwell, Inc. at $64 a share....

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sophisticated investor, B. Graham, sold 300 shares short of Amwell, Inc. at $64 a share. The price of the stock subsequently fell to $56 before rising to $81 at which time Graham covered the position (that is, closed the short position). What was the percentage gain or loss on this investment? Use a minus sign to enter the amount as a negative value. Round your answer to two decimal places.

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Answer #1

If he bought back at $81 then he will be making a loss of ($64-$81)= -$17

Percentage loss = -17/64 = -26.56%

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