Show all work, including step by step details & formulas in Excel. Also, provide reference for stock market data.

Portfolio: Alibaba, FitBit, Macy’s

• Find the holding period return for each stock in your portfolio (Portfolio: Alibaba, FitBit, Macy’s), assuming you purchased each stock at its unadjusted opening price on January 1, 2016 (or the first day the stock market was open in 2016), and sold it at its unadjusted closing price on December 31, 2016 (or the last day the stock market was open in 2016. Would you invest in the portfolio you have chosen? Why or why not?

• Assume that you bought 1,000 shares at each stock’s opening price (from above), and sold them at each stock’s closing price (from above). Use this information to find the return on your portfolio. Would you invest in the portfolio you have chosen? Why or why not?