1. Rashed bought a stock three years ago for $7 a share. Today, June 12, the stock is selling for $82 a share. Rashed is afraid that the price will fall and does not want to lose his profits so he places a stop-loss order to sell at $80. The stock sells between $81 and $85 throughout the remainder of the day on June 12. On the morning of June 13, the stock opens at $10 a share based on rumors of a possible bankruptcy due to inappropriate accounting procedures. Which one of the following statements is true concerning this situation? 1. Rashed bought a stock three years ago for $7 a share. Today, June 12, the stock is selling for $82 a share. Rashed is afraid that the price will fall and does not want to lose his profits so he places a stop-loss order to sell at $80. The stock sells between $81 and $85 throughout the remainder of the day on June 12. On the morning of June 13, the stock opens at $10 a share based on rumors of a possible bankruptcy due to inappropriate accounting procedures. Which one of the following statements is true concerning this situation