Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

You currently own 100 shares of Tesla stock. The stock currently was traded at $2,150 a share. If the company announces a 5-for-1 stock split

  1. You currently own 100 shares of Tesla stock. The stock currently was traded at $2,150 a share. If the company announces a 5-for-1 stock split and the stock price jumped 10% after the stock split. Which of the following best describes your position after the stock split takes place?

You will have 500 share of stock with $430 a share.

You will have 500 share of stock with $473 a share.

You will have 550 shares of stock with $430 a share.

You will have 550 shares of stock with $473 a share.

the answer is not B or 500 share @473

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Financial Management

Authors: Eugene BrighamPhillip Daves

1st Edition

0324594712, 9780324594713

More Books

Students also viewed these Finance questions

Question

Which sort uses recursion?

Answered: 1 week ago