Answer:
The price will be $16.33.
Explanation:
In finance, a reverse stock split is a method where shares are merged to form a smaller number of proportionally more valuable shares. A reverse stock split is also called a stock merge.
If the reverse stock is 3-for-7, that means for every 7 shares an investor have, he will receive 3 shares with a proportional value.
So 3 shares will have the same value than 7 shares of $7 (this is $49). Finally, each share willhave a price of 49/3 = $16.33
