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Big Money Investor Miguel Torres goes long 2500 shares of XYZ stock at $52 per share, using as little of his own money as he
Big Money Investor Miguel Torres goes long 2500 shares of XYZ stock at $52 per share, using as little of his own money as he could. His broker allows full initial margin, but restricts maintenance margin to 30%. After taking this position, the price of the stock begins to fall. Miguel nervously watches the market close and begins to freak out as the price falls rapidly overnight to $32 per share. How much equity ($) does Miguel have left in the account at this point
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