Yesterday at the market close, the stock of Kevin Spellman, Inc. was trading at $75 per share and there were 700,000 shares outstanding.  This morning before the market opened, Kevin Spellman, Inc. announced that it was doing a 5:1 stock split.  

Under the efficient market hypothesis and with no new information, How much will his market capitalization change in dollars?

Answer rating: 100% (QA)

Under the efficient market hypothesis and with no new information the stock split should not ... View the full answer