Yesterday, Berryman Investments was selling for $70 per share. Today, the company completed a 7-for-2 stock...
Yesterday, Berryman Investments was selling for $70 per share. Today, the company completed a 7-for-2 stock split. If the total market value was unchanged by the split, what is the price of the stock today?
Homework Answers
Price of stock split would decrease while number of shares increase following the split.
Hence price of the stock today = $70/(7/2)
= $ 20 per share.
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