eBook

Problem 4-04

A sophisticated investor, B. Graham, sold 600 shares short of Amwell, Inc. at $60 a share. The price of the stock subsequently fell to $50 before rising to $62 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.

%