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1、StockMarketBasicsHowaCompany“GoesPublic”--Mr.YatesSomeFinancialTermsEarningsperShare:Theamountofprofittowhicheachshareisentitled.GoingPublic:SlangforwhenacompanyisplanninganIPO.IPO:ShortforInitialPublicOffering.AnIPOiswhenacompanysellsstockinitselfforthefirsttime.Termscontinued…M
2、arketCap:Theamountofmoneyyouwouldhavetopayifyouboughtevershareofstockinacompany.(Tocalculatemarketcap,multiplythenumberofsharesbythepricepershare.)ShortforMarketCapitalization.Share:Asharerepresentsaninvestor'sownershipina"share"oftheprofits,losses,andassetsofacompany.Itiscreated
3、whenabusinesscarvesitselfintopiecesandsellsthemtoinvestorsinexchangeforcash.TickerSymbol:Ashortgroupoflettersthatrepresentsaparticularstock(e.g.,"CocaCola"isreferredtoas"KO".)Underwriter:Thefinancialinstitutionorinvestmentbankthatisdoingallofthepaperworkandorchestratingacompany's
4、IPO.PurposeoftheStockMarketAlmosteverylargecorporationstartedoutasasmall,mom-and-popoperationandthroughgrowth,becamefinancialgiants.Wal-Mart,DellComputer,andMcDonald’shadcombinedprofitsof$10.34billionthisyear.Wal-Martwasoriginallyasingle-storebusinessinArkansas.StockMarketDellcom
5、puterbeganwithMichaelDellsellingcomputersoutofhiscollegedormroom.McDonald’swasonceasmallrestaurantnoonehadheardof.Howdidtheygrow?Howdidthesesmallcompaniesgrowfromtiny,hometownenterprisestothreeofthelargestbusinessesintheAmericaneconomy?Theyraisedcapitalbysellingstockinthemselves.
6、ExampleofaCompany:NewtoPublicAftergettingmarried,ayoungcoupledecidedtostartabusiness.Itwouldallowthemtoworkforthemselves,aswellasarrangetheirhoursaroundtheirfamily.Bothhusbandandwifehavealwayshadastronginterestinfurniture,sotheydecidetoopenastoreintheirhometown.Afterborrowingmone
7、yfromthebank,theynametheircompany“NWFurniture”andgointobusiness.Thefirstfewyears,thecompanymakeslittleprofitbecausetheearningsareplowedbackintothestore,buyingadditionalinventoryandaddingontothebuildingtoaccommodatetheincreasinglevelofmerchandise.NWFurnitureTenyearslater,thebusine
8、sshasgrownrapidly.Thecouplehasmanagedtop
