Marty borrowed 200 shares of stock from a brokerage house to complete a short sale. When Marty
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Question:
Marty borrowed 200 shares of stock from a brokerage house to complete a short sale. When Marty received the stock, he immediately sold all 200 shares at the market price of $32/share. Two weeks later, Marty bought 200 shares of the same stock, set to return them to the brokerage house, as agreed. Marty paid the market price of $24/share for those 200 shares. Assume Marty did not have to pay any fees to complete this short sale.
Was Marty's short sale successful?
Related Book For
Concepts In Federal Taxation
ISBN: 9780324379556
19th Edition
Authors: Kevin E. Murphy, Mark Higgins, Tonya K. Flesher
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