The stock of Company A lost 2% today to $46.55. What was the opening price of the stock in the beginning of the day?

Answer 1

To find the opening price of the stock, we can set up the problem using the fact that the stock lost 2% to reach $46.55.

Let the opening price be \( x \). Since the stock lost 2%, the closing price can be expressed as:

\[ x - 0.02x = 46.55 \]

This simplifies to:

\[ 0.98x = 46.55 \]

Next, we can solve for \( x \):

\[ x = \frac{46.55}{0.98} \]

Calculating this gives:

\[ x \approx 47.55 \]

Therefore, the opening price of the stock was approximately $47.55.