Martin, a securities dealer, bought 100 shares of Datacard stock on April 5 of year 5 for $10,500. Before the end of that day, he identified the stock as being held for investment purposes.

Assume that later in year 5 he starts trying to sell the stock to customers and succeeds in selling it on May 1 of year 6 for $9,000. How much and what kind of gain or loss does he have?