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On January 27th of 2021, the share price of Gamestop (GME) skyrocketed from $17.25 to $347.51. You have an investment account with $10,000 in cash
On January 27th of 2021, the share price of Gamestop (GME) skyrocketed from $17.25 to $347.51. You have an investment account with $10,000 in cash and no other securities and you decide to take a short position in GME. You sold short 17 shares at $337.29 per share. Given the brokerage policy of minimum margin requirement of 30% for short sales, what is the GME price (to the nearest cent) at which you will get a margin call? Ignore trading expenses and security borrowing costs.
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