c) On January 28, 2021, Robinhood and other trading platforms announced they were going to restrict trading in shares of GameStop, causing the price of a share of GameStop to drop 44% on that day. They cited the volatility of the stock and concerns that they may not have the necessary collateral to meet federal requirements for the volume of trades that were occurring. Given that the price of a share of GameStop was $347.51 on January 27, and the price of a share dropped 44% the next day, what was the price of a share of GameStop selling for on January 28? d) After dropping 44% on January 28, 2021 the price of a share of GameStop recovered and increased by 68% the next day. What was the price of a share of GameStop on January 29, 2021? ei After dropping by 44% on one day, and then increasing by 68% the next day, Marcus thinks that the price of a share of GarneStop should be 24% higher than it was before the 44% drop (since 68% - 44% = 24%). Is Marcus correct? Why or why not? f} After the price of a share of Ga meStop dropped by 44% on January 28, 2021, by what percentage would the price have needed to increase on January 29, 2021, in order to get back to its price on January 27, 2021? Problem 2 On April 3, 2020, shares of GameStop stock were selling for $2.80 per share. Keith Gill, a 34-year old Reddit user from Massachusetts (who goes by the name \"Roaring Kitty\" on social media) invested $53,000 in shares of GameStop. He then started sharing information about his investment on social media, began making YouTube and TikTok videos about his investment, and predicted that the value of GameStop would go up due to the COVID pandemic and with the release of new gaming consoles. Gill gained a rather large following and, inspired by him and other investors, hordes of online traders {many of whom were young investors) invested in GameStop. Many of these young investors used no-fee online trading platforms like Robinhood and WeBull. By January 27, 2021 this purchasing frenzy had driven the price of GameStop up to $347.51 per share and Gill had become a multimillionaire. Young investors had surprised experienced investors, hedge fund managers, and Wall Street veterans with their newly found ability to influence stock prices using social media. Round all currency to the nearest cent, and all other answers to the nearest tenth. a) The closing price of GameStop stock on June 9, 2021 was $302.56 per share. Assuming Gill did not invest in GameStop beyond his initial $53,000 investment, how much were his stocks worth on June 9, 2021? b) The price of a share of GameStop on November 25, 2020 was $14.75. If Tracia purchased 2,000 shares of GameStop on April 3, 2020 and 4,000 more shares of GameStop on November 25, 2020, how much did she pay for her 6,000 shares? If she sold all 6,000 shares that she owned on June 9, 2021, how much did she sell them for? How much of this was prot for her