Question: Toombs Media Corp. recently completed a 3 - for - 1 stock split. Prior to the split, its stock sold for $ 1 0 0

Toombs Media Corp. recently completed a 3-for-1 stock split. Prior to the split, its stock sold for $100 per share. The firm's total market value was unchanged by the split. Other things held constant, what is the best estimate of the stock's post-split price?
a. $35.00
b. $35.33
c. $41.00
d. $38.67

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!