You have placed an order to purchase 260 shares of every, Financial Management

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You have placed an order to purchase 260 shares of every

You have placed an order to purchase 260 shares of every IPO that comes to market. The next two IPOs are each priced at $25 a share and will begin trading on the same day. You are allocated 55 shares of IPO A and 260 shares of IPO B. At the end of the first day of trading, IPO A was selling for $43 a share and IPO B was selling for $23 a share. What is your total profit or loss on these two IPOs as of the end of the first day of trading?

Options:

$470

$1,845

–$50

$8,345

$1,265

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