Problem:
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 $50 a share and IPO B was selling for $26 a share.
Required:
Question: What is the client's total profit or loss on these two IPOs as of the end of the first day of trading?
Note: Explain in detail and show all computations in proper way.