A stockbroker purchases 5 different stocks. During the next month, each stock can either raise,fall or stay the same. How many different possibilities are there?
The Attempt at a Solution
For each stock, there are 3 possible choices(raise,fall,same). For each of the choices, there are 4 possible outcomes. From that, i multiplied 5*3*4*4*4=960 but it's wrong. Anyone know where i went wrong with my reasoning?