A sophisticated investor, B. Graham, sold 650 shares short of Amwell, Inc. at $41 a share....
A sophisticated investor, B. Graham, sold 650 shares short of Amwell, Inc. at $41 a share. The price of the stock subsequently fell to $39 before rising to $57 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.
Homework Answers
Percentage loss=Number of shares*(selling price-covering price)/(Number of shares*selling price)=650*(41-57)/(650*41)=-39.024%
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A sophisticated investor, B. Graham, sold 650 shares short of
Amwell, Inc. at $41 a share....
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