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Mike placed an order for 400 shares of each of four separate IPOs (Orders A, B, C, and D) with an offer price of $20
Mike placed an order for 400 shares of each of four separate IPOs (Orders A, B, C, and D) with an offer price of $20 each. He received 100 shares of Order A, 200 shares of Order D, and 400 shares of the other orders. At the end of the first day, Order A was underpriced by $3 a share, Order B was overpriced by $4 a share, Order C was correctly priced, and Order D was underpriced by $2.4 a share. What was combined total profit or loss for the first day on these four orders?
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