Ask Question
BusinessBusiness
9 August, 19:42

Recently, Hale Corporation announced the sale of 2.5 million newly issued shares of its stock at a price of $21 per share. Hale sold the stock to an investment banker, who in turn sold it to individual and institutional investors. This is a secondary market transaction. True False

+2
Answers (1)
  1. 9 August, 20:10
    0
    False

    Explanation:

    Secondary market is a market of financial instruments where, individuals and institutional investors already holding securities perform transactions of buying and selling those securities held by them, as for example: New York exchange.

    Since in the given instance there is a sale of newly issued shares to investment banker and then through investment banker to individuals and institutional investors.

    Thus it is not a transaction of secondary market.

    The statement is false.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Recently, Hale Corporation announced the sale of 2.5 million newly issued shares of its stock at a price of $21 per share. Hale sold the ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
To obtain the dollar sales volume necessary to attain a given target profit, which of the following formulas should be used?
Answers (1)
As the result of a choice, the person who makes the decision gets a ... A. benefit. B. consequence. C. cost. D. margin.
Answers (1)
When workers go out on a strike not approved by the union, the strike is called a?
Answers (1)
Why is it better to underestimate your income instead of overestimating when creating a budget?
Answers (1)
Which of the following would cause a trust to be treated as a complex trust for income tax purposes for the current tax year? A. The trust requires that an amount equal to accounting income be distributed to the trust's income beneficiary B.
Answers (1)
New Questions in Business
Zappos was created and made possible by a changing business-environmental factor. this factor is
Answers (1)
A monopolist's maximized rate of economic profits is $2 comma 700 per week. Its weekly output is 900 units, and at this output rate, the firm's marginal cost is $39 per unit. The price at which it sells each unit is $49 per unit.
Answers (1)
Fixed-time-period inventory models generate order quantities that vary from time period to time period, depending on the usage rate. (A) True (B) False
Answers (1)
Antique Works is owned and operated by a craftsman who makes replicas of historic firearms for museums, sportsmen, and collectors.
Answers (1)
If the seller wishes to make his goods available to the buyer at his place of business with the buyer arranging all transportation and bearing all risks from the time the goods leave the seller's door, the seller should quote his prices:
Answers (1)
Home » Business » Recently, Hale Corporation announced the sale of 2.5 million newly issued shares of its stock at a price of $21 per share. Hale sold the stock to an investment banker, who in turn sold it to individual and institutional investors.
Sign Up Forgot Password?