On Friday, June 6, 2014, Apple closed at $645.57 per share. Apple did a 7-for-1 stock split over the weekend. What was its share price when the market opened on Monday morning?
Answer: This is a trick question. Most people would say the answer is 1/7 of $645.57, which would be $92.22. But the answer is $92.70, and that’s because stocks almost never open at the same price they closed at on the previous trading day. Lots of things can happen to a company or stock overnight or over the weekend, including small changes in supply and demand. There was no way to figure $92.70 from the info we gave you. You have to just look it up on the app.