what does “exchanged” mean here?

nyz: what does “exchanged” mean here?
The stock was exchanged for stock in Pan-American Petroleum Co.

Answers and Views:

Answer by Shaun Liakat
they mean the one stock was traded for the other (or they mean turned in for the other one)

Answer by Daniel
Stock exchanging is trading.. You buy stocks of a company and they may rise in value or not.
Therefore my guess would be that Pan-American Petroleum Co. bought a stock, or otherwise.. A stock of Pan-American Petroleum Co. was bought.

Usually people buy stocks of other companies.. If you buy 90% of company’s stocks then you are basically owning it, and the value of the 90% will be yours.

i.e : You buy stocks of a company for 1,000$ , the next day the company stocks value goes up by 10%
The stocks’ value you bought will rise to 1,100$ (100$ increase). That means if you sell your stocks you will make profit.

You may have heard of NASDAQ or “Wall Street”. Those are related much to stocks, and during the recession many companies lost much of their value because the stocks went down.