A company recently completed a 5-for-3 stock split. Prior to the split, its stock sold for...

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A company recently completed a 5-for-3 stock split. Prior to the split, its stock sold for...

A company recently completed a 5-for-3 stock split. Prior to the split, its stock sold for $155 per share. If the total market value was unchanged by the split, what was the price of the stock following the split?

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Answer 1

Answer #1

C. $93

Price of the stock following the split = ($155 × 3) / 5

Price of the stock following the split = $93

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Answer 2

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Add Answer to: A company recently completed a 5-for-3 stock split. Prior to the split, its stock sold for...

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A company recently completed a 5-for-3 stock split. Prior to the split, its stock sold for...