You have been instructed to place an order for a client to purchase 500 shares of every ipo that comes to market. the next two ipos are each priced at $26 a share and will begin trading on the same day. the client is allocated 500 shares of ipo a and 240 shares of ipo b. at the end of the first day of trading, ipo a was selling for $23.90 a share and ipo b was selling for $29.40 a share. what is the client's total profit or loss on these two ipos as of the end of the first day of trading

At the end ofthe day it loss 504

Explanation:

First, we will compare the IPO value with the market price to check the result per share

IPO A             26

market value 23.90

loss per share 2.1

IPO B             26

market value 29.4

gain per share 3.4

Then, we multiply by the amount of shares for each IPO

shares of IPO A 500

loss for IPO A 500x 2.1 = 1,050

shares of IPO B 240

gain for IPO B 240 x 2.1 = 504

Last, we put the values together and get the net for the transaction

IPO A (1,050)

IPO B    504

total     (546)

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