Question
Last week, Lily Company stock was selling at $46 a share when Matt sold 300 shares of the stock short. Today Matt bought 300 shares
Last week, Lily Company stock was selling at $46 a share when Matt sold 300 shares of the stock short. Today Matt bought 300 shares of the same stock at a price of $42 share to cover his position. Ignoring trading costs, what is the dollar return on his investment?
| A | $1,200 | |
| B | -$1,200 | |
| C | $1,800 | |
| D | -$1,800 |
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International Financial Management
Authors: Cheol Eun, Bruce Resnick
7th Edition
0077861604, 9780077861605
