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Publishing recently completed its IPO. The stock was offered at a price of $17.00 per share. On the first day of trading, the stock closed

Publishing recently completed its IPO. The stock was offered at a price of $17.00 per share. On the first day of trading, the stock closed at $20.00 per share. What was the initial return on Margoles?

Who benefited from this underpricing? Who lost, and why?

What was the initial return on

Margoles?

The initial return was ___ % (round to two decimals)

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