Yesterday, 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? (Do not include the $ sign in your answer).

Question

Business

Brent Walls

10 October, 05:33

Yesterday, 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? (Do not include the $ sign in your answer).

+5

Answers (1)

Know the Answer?

Kara Shah · Answer 1

25.71

Explanation:

For every two shares held in the past, the investor gets seven. Thus, for every $180 worth of shares ($90 x 2), an investor gets seven, thus $180/7 = $25.714 (approx).