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On Thursday March 2nd, 2017, Snap went public by issuing 180,000 new shares at an...

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Finance

On Thursday March 2nd, 2017, Snap went public by issuing 180,000 new shares at an issue price of $21. Before the IPO, Snap had 1 million shares outstanding. The closing price of one Snap stock on the first day following the IPO was $23 (consider this price as being the market price post IPO). Compute the loss (in $) of an investor who had one stock of Snap before the IPO if they sold in the IPO, and after the IPO (i.e., at $23).

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