A more thorough explanation:

Definition: The closing price is the final price at which a security or stock is traded on a particular day. It is the last price recorded before the market closes.

Example: If a stock is traded at $50 at the beginning of the day and fluctuates throughout the day, the closing price would be the final price at which the stock is traded before the market closes. If the stock closes at $55, then the closing price for that day would be $55.

Explanation: The closing price is an important indicator of a stock's performance for the day. It is used by investors and traders to evaluate the stock's performance and make decisions about buying or selling. The closing price is also used to calculate the daily change in a stock's price and to determine the stock's overall trend.