Bankruptcy due to inappropriate accounting procedures

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You bought a stock 3 years ago for $6 a share. yesterday, April 18, the stock is selling for 72$ a share. you are afraid that the price will fall and do not want to lose your profits so you place a stop order to sell at $70. the stock sells between $71 and $75 throughout the remainder of the day on April 18. on the morning of April 19, the stock opens at $9 a share based on rumors of a possible bankruptcy due to inappropriate accounting procedures. what is your current position? answer it clearly and explain what happens to your order.

Reference no: EM132047242

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