Loss on these two ipos as of end of first day of trading

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Reference no: EM131356200

You are a broker and have been instructed to place an order for a client to purchase 100 shares of every IPO that comes to market. The next two IPOs are each priced at $30 a share and will begin trading on the same day. The client is allocated 30 shares of IPO A and 100 shares of IPO B. At the end of the first day of trading, IPO A was selling for $58 a share and IPO B was selling for $27 a share. What is the client's total profit or loss on these two IPOs as of the end of the first day of trading?

Reference no: EM131356200

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