This mmorning I looked at the market. I bought 20000 shares of Royal bank of Scotland yesterday at .95 a share. I was hoping it would go up 10 cents or so. This morniing it was at 20.40 a share. After getting CPR, I tried to sell it. It said I was trying to sell more shares than I had. They did a 20:1 reverse split last night >:(
Then I watched the jobs numbers come out. I expected >:( >:(.....what I got was >:( >:( >:( >:( >:( >:( >:( >:( >:( >:( >:( >:( >:( >:(
Good morning America!
Value after the reverse split per share, Peter? I assume you ended up with 1000 shares then?
Quote from: glenn kangiser on November 07, 2008, 09:33:42 AM
Value after the reverse split per share, Peter? I assume you ended up with 1000 shares then?
That's right Glenn. In theory it balances out but in real life, you always lose money on reverse splits and in most cases all splits. It makes it worse with overseas stocks because it takes a couple days before the exchange trades in the new for the old. I need the broker to sell them if I need to before the trade is made.
I'll let them sit till next week.
My guess is it's going to be flat today after yesterdays big selloff.