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Bruce buys
of Sketchy Corporation stock. Unfortunately, a major newspaper reveals the very next day that the company is being investigated for accounting fraud, and the stock price falls by
What is the percentage increase now required for the value of Bruce's stock to get back to what he paid for it?
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- Edward gives a check to Fund Investments to buy 100 shares of stock in GR8 Tech Corporation. The price of the shares is constantly fluctuating. Fund Investments asks Edward to leave the amount of the check blank and allow it to fill in the price when making the purchase. Edward agrees. Fund Investments buys the stock when the price is $4,000, but fills in the check for $5,000. The check is negotiated as payment for a $5,000 debt to Hasty Accounting Services, which takes the check in good faith and without notice of Fund Investments’ act. Hasty later learns that Fund Investments was not authorized to fill in the check for $1,000 over the price. Is Hasty an HDC? If so, for how much?Wilson Beckett buys a share of common stock directly from Anston Corporation for $13 in cash. Several weeks later, Beckett sells this share to Buddy O’Coron for $22 in cash. What is the impact on Anston of each of these transactions?After researching Best Buy common stock, Sally Wang is convinced the stock is overpriced. She contacts her account executive and arranges to sell short 400 shares of Best Buy. At the time of the sale, a share of common stock had a value of $160. Three months later, Best Buy is selling for $152 a share, and Sally instructs her broker to cover her short transaction. Total commissions to buy and sell the stock were $64. What is her profit for this short transaction?
- After researching Best Buy common stock, Sally Wang is convinced the stock is overpriced. She contacts her account executive and arranges to sell short 200 shares of Best Buy. At the time of the sale, a share of common stock had a value of $140. Three months later, Best Buy is selling for $132 a share, and Sally Instructs her broker to cover her short transaction. Total commissions to buy and sell the stock were $54. What is her profit for this short transaction? Total profit after commissions?Suppose that Ike is loss averse. In the morning, Ike’s stockbroker calls to tell him that he has gained $1,000 on his stock portfolio. In the evening, his accountant calls to tell him that he owes an extra $1,000 in taxes. At the end of the day, does Ike feel emotionally neutral since the dollar value of the gain in his stock portfolio exactly offsets the amount of extra taxes he has to pay? Explain.You buy 1,000 shares of ABC Co. at $6 per share. The company is suedfor millions of dollars, and ABC Co. is forced into bankruptcy. The newspaperstated that the cost of this suit would amount to $12 per share ofstock. What is the maximum amount of money you can lose with thisinvestment? Why?
- Nancy Cotton bought 400 shares of NeTalk for $15 per share. One year later, Nancy sold the stock for $21 per share, just after she received a $0.90 cash dividend from the company. a. What is the total dollar return earned by Nancy for the year? b. What is the rate of return earned by Nancy?Joseph Jones, a manager at Computer Science, Inc. (CSI), received 10,000 shares of company stock as part of his compensation package. The stock currently sells at $40 a share. Joseph would like to defer selling the stock until the next tax year. In January, however, he will need to sell all his holdings to provide for a down payment on his new house. Joseph is worried about the price risk involved in keeping his shares. At current prices, he would receive $400,000 for the stock. If the value of his stock holdings falls below $350,000, his ability to come up with the necessary down payment would be jeopardized. On the other hand, if the stock value rises to $450,000, he would be able to maintain a small cash reserve even after making the down payment. Joseph considers three investment strategies:a. Strategy A is to write January call options on the CSI shares with strike price $45. These calls are currently selling for $3 each.b. Strategy B is to buy January put options on CSI with…Suppose Formura’s stock is currently trading at $50 per share, but Lorenzo believes that the stock is overpriced. In response to this, he calls his broker to take a short position on 300 shares of Formura’s stock. Over the next three months, the price of Formura’s stock decreased, and Lorenzo placed an order to purchase 300 shares to offset his short position. If the price decreased to $45, then Lorenzo stands to earn $______ from his short position. -$3,000 $3,000 -$1,500 $1,500
- Dan bought 200 shares of a stock at P140 per share. A year later, he sold the stocks at P145.50 a share. 6. How much money did Dan make on the sale (excluding buying and selling charges)? 7. Assuming that Dan did not receive dividends, what is his total stock ROI (excluding charges)? 8. If during the year he held the stock, Dan received P2.25 dividend per share, what is his total stock ROI (excluding charges)?Peter Gunderson bought 2,000 shares of stock in a transportation company at $45.10 per share. Ten months later he sold the stock at $78.22 per share. If he had to pay his broker a commission of $85, how much profit did Peter make on this investment? Round your answer to the nearest dollar.Lancaster Corporation, an investment banking company, often has extra cash to invest. Suppose Lancaster buys500 shares of Knight Corporation stock at $40 per share, representing less than 5% of Knight’soutstanding stock. Lancaster expects to hold the Knight stock for one month and then sell it.The purchase occurs on December 15, 2018. On December 31, the market price of one share ofKnight stock is $47 per share.Requirements1. What type of investment is this for Lancaster? Give the reason for your answer.2. Record Lancaster’s purchase of the Knight stock on December 15 and the adjustment tomarket value on December 31.3. Show how Lancaster would report this investment on its balance sheet at December 31 andany gain or loss on its income statement for the year ended December 31, 2018