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Suppose Mike, an investor, shorted 10,000 shares of a stock at $20/share. i.e., borrowed 10,000 shares from the brokerage firm to sell first. Later, the

Suppose Mike, an investor, shorted 10,000 shares of a stock at $20/share. i.e., borrowed 10,000 shares from the brokerage firm to sell first. Later, the stock price went up to $28/share.

What is the gain or loss of the short position?

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