Just around 10% of its peak price in 2000....
UGAZ drops too fast? No worry today 1 for 10 reverse split!
- Thread starter GloriaBrown
- Start date
Just around 10% of its peak price in 2000....
That's not the relevant issue...
C is up 650% off of its 2009 low. No reverse splits since.
Look at PCLN... got down to between $1-$2/share. Now, $1800
your $10 became $75 (you only have 1 sh post revers). plain vanilla XLF went from $4 to $30. pretty much same.
No surprise there. Never said "C is the greatest trade in the world"... just using it as example of a reverse split that worked out, at least so far. (We don't know whether the reverse split had anything to do with the price bounce.... frankly, I doubt it. The reverse split was to allow institutions to trade in the issue as many are prohibited from trading issues <$5 or <$10/share.)
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Yeah.... so long as it keeps crashing. Reverse splits are usually shorting traders "wet dream come true". It's almost like the announcement of a reverse split is an automatic fade.
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Take a look at the borrow rate. And the max short term upward move it's seen. One could say the same about shorting VIX futures but it's picking up nickels in front of a steamroller.