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Market capitalization change in dollars

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Yesterday at the market close, the stock of Kevin Spellman, Inc. was trading at $75 per share and there were 700,000 shares outstanding. This morning before the market opened, Kevin Spellman, Inc. announced that it was doing a 5:1 stock split. Under the efficient market hypothesis and with no new information, how much will his market capitalization change in dollars?

Reference no: EM133119614

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