Question

On May 6, the XYZ Corp announced a decrease in earnings. This news caused the price of their stock to drop. It closed at $47.37. Express the net change from May 5 to May 6 as a percentage

Answer 1

To find the net change as a percentage, calculate the difference between the closing prices on May 5 and May 6, and divide by the closing price on May 5.

Step-by-step explanation:

To calculate the net change as a percentage, we need to find the difference between the closing prices of the stock on May 5 and May 6, and then divide that difference by the closing price on May 5. Here's how to do it:

1. Calculate the difference in stock price: $47.37 - $X = $Y (X represents the stock price on May 5, Y represents the net change)
2. Calculate the net change as a percentage: (Y / X) * 100%

For example, if the stock price on May 5 was $50, the net change would be $47.37 - $50 = -$2.63. The net change as a percentage would be (-$2.63 / $50) * 100% = -5.26%.