Yesterday, Berryman Investments was selling for $145 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?
7 FOR 2 SPLIT : means 7 shares will be given for every 2 shares held
So post split,
The price of the stock = price before split x share before split/ shares after split
The price of the stock = 145 x 2/7 = 41.43 (rounded to 2 decimals)
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