Question: Last week, you sold 3 0 0 shares of ABC stock for $ 6 , 3 0 0 . The sale was a short sale

Last week, you sold

300

shares of ABC stock for $

6, 300 .

The sale was a short sale with an initial margin requirement of

70 % .

The maintenance margin is

40 % .

Some positive news concerning the company was released last night and the stock price jumped this morning to $

28

a share. What is your current margin position in this stock?

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