Question
On January 4th, Tom bought 100 shares of GameStop stock for $17.25 per share. On February 1st (exactly 28 days, or 4 weeks later) and
On January 4th, Tom bought 100 shares of GameStop stock for $17.25 per share. On February 1st (exactly 28 days, or 4 weeks later) and in the peak of the short squeeze on GameStop's stock, Tom sold his shares for $315 per share.
a) What was the total percentage return that he earned on this investment? (3 points)
b) Given the 28-day holding period, what is the compound daily percentage return on his investment? (3 points)
Solve with explanation
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Calculating Toms Return on GameStop Stock a Total Percentage Return Heres how to calculate the total ...
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Investments An Introduction
Authors: Herbert B Mayo
9th Edition
324561385, 978-0324561388
