You can be sure the May 28th-fixated will be back. Maybe not repeating their ignorance of the record date, but with new and equal baloney, pressing their cases with the fullest measure of ignorance they can muster.
And probably with new screen IDs to help them forget their past stupidity.
High-larious, ain't it?!
"this is not a cash divedend"
Makes no difference if it's a cash dividend or stock.
"Geron has been trading with a 0 value placed on the BTX deal"
The BTX warrants will be awarded to Asterias shareholders, not Geron shareholders. As for the Asterias spinoff, the Asterias shares will be trading on a when-issued basis before the distribution is made, and that's where the dollar value will come from for the price adjustment to the GERN shares on the ex-date.
"so you are quite frankly wrong"
No, I'm right. You are the one who is quite frankly wrong. The BTX warrants don't go to GERN shareholders, they go to Asterias shareholders, and the spinoff procedure, including the adjustment to GERN's share price, is a matter of stock exchange rules. You really ought to learn what's going on and how it's going to work before you embarrass yourself again.
Right -- the markdown probably won't be noticed in the daily trading range. The point is that the Asterias shares are not free.
Standard procedure. When a company makes a distribution, whether in stock or cash, the net asset value of the company is instantly reduced by the value of the distribution. The closing price of the stock on the day before the ex-date is then marked down by the value of the distribution to reflect the reduction in value.
"time is running out to get your GERN stock with free Asterias shares"
The Asterias shares are not free -- the price of GERN will be marked down by the proportional value of the Asterias spinoff shares on the ex-date.
"Are options EVER adjusted because of a dividend payout? Nope"
Sure they are. Do a google search for "OCC Information Memo 27649" and it spells out that sometimes, if somebody of authority feels like it, certain options will be adjusted, but then again, maybe not, because the committee may decide that they don't feel like it after all. Like maybe they're late for brunch or something.
"Add 'just plain crazy' after reading his latest barrage of nonsense."
I used "bat #$%$ crazy," but just plain crazy/bat #$%$ crazy - same as potato/patahto.
Oh, I'm not the least bit confused by robshecrazy. I realized from the very beginning that he's bat #$%$ crazy. I've been through these deferred ex-date dividends many, many times and always have a lot of fun watching close-minded nut bags try to tell me I'm wrong about how they work. After doing this for years, I gotta hand it to robshecrazy - he's the looniest of them all!
Well, let's say it's trading at 6.69, where it traded at most of the day, today, the 11th, until near the close. But two sentences ago you said you sold it after the tenth and also sold your right to the dividend to the buyer of your AWRE shares. So how can you sell your shares, including the right to the dividend, and yet the right to the dividend not belong to the buyer of your shares?
"Yes you can still receive the dividend after JUly 10th"
Oh, good - you changed your mind back to what you said in the first place.
"but be prepared to shed more money example if you go to your broker now you will see siome people putting in there premium price now good to cancel."
Who cares what high price some shareholders put a sell order in for when plenty of others are still willing to sell for 6.69?
"To understand this better look at the bid price in blue those are people whop own the stock before July 11th and are getting the dividend. There price will be higher then market value so if you go to buy the stock dirt"
What is stock dirt?
...robshemanski? Stock dirt?
"In order to understand how stocks special dividend works you must understand what terminology means."
"What is a record date mean? It means that you must own the stock by this date. It's the last day to own the stock which is today July 10th."
So, the ex-date means nothing?
"From July 11th to July 23rd you can still get the dividend but have to pay a higher premium"
But you just said that July 10th was the last day to own the stock in order to receive the dividend. How can you still get the dividend just by paying a premium if the 10th was the last day to qualify?
"say I was going to sell my shares that I own you would have to pay more money I may ask for 7.50 a share"
Really? Then how come it traded only two cents higher during most of the trading day on the 11th? Is $6.69 just about the same as $7.50?
"I own 6800 shares of AWRE Say I decide to sell some of it before the dividend date is reached. I will not sell it at market value but at a higher premium."
How much higher?
"I bought it at 6.58 so I would sell it at 8.34."
Oh. ... But how can you sell it for 8.34 after the 10th when it's already after the 10th and it traded all day below 6.75?
"I want my 1.75 dividend a share so in order for you to get you have to pay a higher premium."
But why would I buy from you when everybody else is willing to sell it below 6.75? 63,000 shares below 6.75 today alone.
"Say you bought it from me I just gave up my right to own the dividend and then you get the right to the dividend."
Okay. You sold and gave up the right to the dividend. It now belongs to the buyer.
"If you buy at market value saying it's trading at 6.58 after July 10th you are not owning the stock by the record date therefore you do not qualify for the dividend."
This is so educational I'll have to continue it in the next post ...
You wouldn't happen to mean cwn600, would you?
"You are confused"
I am, am I? Let's see ...
"the owners of 499 shares or less of NAT are getting in cash, they are in fact getting cash based on the NAO closing price of 8/11/2014"
I never said they weren't.
"Owners of more are getting NAO shares based on the IPO price of 15."
Originally based on the the IPO price of $15, yes, but the actual value of those shares when distributed will be based on the closing price of NAO on August 8, which is what I originally said, though I didn't have a specific date because it wasn't announced until today.
"the entire point of my post and this exercise was to show fellow NAT shareholders that we are getting NAO shares at a market discount"
But you're NOT getting the NAO shares at a market discount. In January, when the distribution was announced, NAT already owned the NAO shares that they will be distributing. That means YOU already owned your proportional share of NAO through your ownership of NAT, and the price of NAT already reflected the ownership of the NAO shares. As the trading price of NAO has increased, so has the value of the NAO shares held by NAT. So on the day the NAO shares are spun off, you'll have two securities, NAT and NAO, that together represent the value that NAT alone represented the day before the spinoff. You're getting nothing at a discount. You're simply getting the increased value of the NAO shares that were a part of your NAT ownership in the first place. No different than any other stock you might own that goes up.
"Do you understand now?"
That's my question to you.
"I know what you're saying I just don't agree with you period"
What you can't get through your thick skull is that I have not been stating my opinion or anyone else's. I have simply been explaining the stock exchange rules for this spinoff. I've repeatedly pointed people to google searches where they can read the rules for themselves, but they don't, so while I don't think I'm any kind of wiz, I do realize you are definitly stupid.
What's your excuse for not reading the rules for yourself?
Plain ol' stupid.
"we will see who's Right"
Yes, we will, and since the stock exchange rules require the distribution to be handled the way I've described, it will play out exactly that way. But you won't be here to admit you're wrong. Blockheads never do.
"Read the thread"
Yes, by all means read it. And if it's not too much trouble, try comprehending it at the same time.
"you jumped in saying it's a close of trading price which was dead wrong"
If my stating the value of the distribution would be based on a close-of-trading price, then why does NAT's press release this morning say the exact same thing?
From this morning's press release: "The cash value of the dividend will therefore be based on the value of NAO shares at the close of NYSE August 8, 2014."
I said close of trading price, NAT says close of trading price. How do you then say I'm "dead wrong"?
You screwed up, mr_brightside_xy, and now you're trying to deny it by screwing up some more. Instead of getting defensive, why don't you learn to understand what you read?
Well, at least your stupidity is consistent. That means anything you claim can be dismissed as wrong. Saves time. Thanks.
"Where is that "cwn600" to see what he's got to say now?"
You want me to clear up your confusion, do you? Sure. Since you can't figure it out for yourself, I'd be glad to.
"I've been a GERON shareholder for about 4-5 years, I sold June 26th and got back in July 8th, that shouldn't matter cause I was a shareholder as of May 28th, 2014."
Being a shareholder on May 28th doesn't have anything to do with it, since you bought back in before the ex-date. It is the ex-date that determines who gets the dividend, not the record date, and the ex-date has not yet been established. Why do you think the company said today that any shareholder of record on May28th who sells their shares before the ex-date is also selling their right to receive the Asterias shares? When you sold GERN on June 26 you also sold your right to the Asterias spinoff. But you bought back your right to the Asterias shares when you bought GERN back on July 8th. The right to the spinoff is attached to the GERN shares until the close of trading on the distribution date. That is the purpose of the due bills.
Have any of those facts penetrated your closed mind?