Questions: A stock's price dropped from 51.08 per share to 22.21. What was the loss on a single share of the stock? There was a loss on one share of the stock.

A stock's price dropped from 51.08 per share to 22.21. What was the loss on a single share of the stock?

There was a loss on one share of the stock.

Transcript text: A stock's price dropped from $\$ 51.08$ per share to $\$ 22.21$. What was the loss on a single share of the stock? There was a \$ $\square$ loss on one share of the stock.

Solution

Solution Steps

Step 1: Determine Initial and Final Prices

The initial price of the stock is given as $ P_{\text{initial}} = 51.08 $ and the final price is $ P_{\text{final}} = 22.21 $.

Step 2: Calculate the Loss

To find the loss on a single share, we use the formula: \[ \text{Loss} = P_{\text{initial}} - P_{\text{final}} \] Substituting the values: \[ \text{Loss} = 51.08 - 22.21 = 28.87 \]