Tue, Jul 22, 2014, 6:48 PM EDT - U.S. Markets closed

Recent

% | $
Click the to save as a favorite.

Corrections Corporation of America Message Board

you are viewing a single comment's thread.

view the rest of the posts
  • guywithbaldspot guywithbaldspot Jul 9, 2007 3:26 PM Flag

    The split apparently occured Monday:

    No, the split actually took effect on Friday AFTER the market had closed for the day. CXW would have to have a fixed price to then determine how much the new shares would cost after the 2 for 1 split as they couldn't split a share if the price of said share was in fluctuation (which it would be if the stock was being actively traded).

    The market would then show the new price going into the trading day today.

    You'll see the closing price on Friday of 65.98 here: http://finance.yahoo.com/q/hp?s=CXW&a=06&b=1&c=2007&d=06&e=9&f=2007&g=d

    That price was then adjusted to take the 2 for 1 split into consideration, which meant the adjusted close was 32.99. That can be seen here http://finance.yahoo.com/q?s=cxw+ next to Prev Close.

    For more info on stock splits, see http://www.investopedia.com/articles/01/072501.asp .


    Anyway, this is our second split in less than a year (there was a 3 for 2 split on September 14, 2006 - see http://finance.yahoo.com/q/bc?s=CXW&t=2y ). After suffering through the reverse 1 for 10 split way back in the day (May, 18, 2001), we're slowly making up our lost ground.

    Fergie is doing a great job IMO. Debt has been greatly reduced, and we haven't made any mistakes recently like installing porcelain toilets! As bad as Doc was, he did have some vision and perhaps some of his expansion plans and buildings prisons on spec are now coming to bear fruit.

    If things continue the way they have, I think we may actually see a dividend declared within the next 2-3 years. However, even if a dividend isn't declared I wouldn't worry about it if the stock price continues going up, debt keeps coming down, and most importantly, profits continue to grow.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Guy With...
      Excellent summary.
      Yes, I'm one of the "old timers" who go back to Doc's days....
      the "good days", the "not so good days", and now "we seem to be finally getting it right days".
      BTW, General Jack has been around since the first two-cell shed, with wooden bars on the windows.
      Just kidding, General - it only seems that long ago!

      • 3 Replies to toptalk99
      • Thanks tt99, and thanks for the laugh I got from your comments about the General.

        Yep, those were the days, weren't they? Doc, CCA as a REIT, suspension of dividends, the porcelain toilets, etc. I don't remember at this point exactly when I started to buy (1997?), although I do know that CCA's price had been beaten down somewhat, which is why I bought as it looked like a bargain. Of course then the stock was REALLY beaten down! Oh well, at least things are looking better now.

      • The General's kinda surprised that no one had (incidentally)mentioned that, 2 minutes after the opening, CXW achieved ANOTHER new (split-adjusted) 52-week high this morning. That's 3 for 3 (in the last three trading sessions).

      • Thanks tt99, and thanks for the laugh I got from your comments about the General.

        Yep, those were the days, weren't they? Doc, CCA as a REIT, suspension of dividends, the porcelain toilets, etc. I don't remember at this point exactly when I started to buy (1997?), although I do know that CCA's price had been beaten down somewhat, which is why I bought as it looked like a bargain. Of course then the stock was REALLY beaten down! Oh well, at least things are looking better now.

 
CXW
33.09+0.15(+0.46%)Jul 22 4:01 PMEDT

Trending Tickers

i
Trending Tickers features significant U.S. stocks showing the most dramatic increase in user interest in Yahoo Finance in the previous hour over historic norms. The list is limited to those equities which trade at least 100,000 shares on an average day and have a market cap of more than $300 million.