Help me understand this; day traders bought higher yesterday, held til today, took a loss on their position so they could get the dividend. Hmmmm, sounds like a great strategy. I'm so glad you cleared everything up. Will you manage my money?
"You can't sell until 5/14 (next Wednesday) or you will miss out on the dividend."
No, as will all dividends, you can sell on the ex-date and still get the dividend. There's no need to hold until the record date. Didn't you notice the ex-date price adjustment today? It closed yesterday at 44.55. It closed today at 43.22, a difference of 1.33, yet the change is shown as 1.03 because those buying today don't get the dividend. The sellers do. Simple, fundamental stuff.