Suhayb8062 Suhayb8062

17-01-2020
Business

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esterday, Berryman Investments was selling for $90 per share. Today, the company completed a 7-for-2 stock split. If the total market value was unchanged by the split, what is the price of the stock today

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sampsonola sampsonola

17-01-2020

Answer:

$ 25.71

Explanation:

The stock split means a shareholder will have 7 shares for every 2 shares they have earlier. Companies do this to reduce the trading price of their stock to a range investor considered comfortable.

the new price of the stock = 2 × 90 / 7 = $ 25.71

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