Let's break this problem into steps:

1. Initial value of the stock: $3000

2. Drop by 8%: On the first day, the stock drops by 8%.

   • This means the stock loses 8% of $3000:
     $0.08 \times 3000 = 240$
   • The new value after the drop is: $3000 - 240 = 2760$

3. Gain of 8%: On the second day, the stock gains 8% of the new value ($2760).

   • This means it gains 8% of $2760: $0.08 \times 2760 = 220.80$
   • The value after the gain is: $2760 + 220.80 = 2980.80$

Thus, at the end of the second day, the stock is valued at $2980.80.

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Would you like a more detailed explanation, or do you have any other questions?

Here are some related questions:

1. How do percentage increases and decreases affect the value of an investment over time?
2. What would happen if the stock dropped by 10% instead of 8%?
3. How do compounded gains differ from simple percentage gains?
4. How would this problem change if the gain on the second day were higher, say 10%?
5. How can this principle be applied to interest calculations in finance?

Tip: Always apply percentage increases or decreases to the new amount after the change rather than the original amount to get accurate results!