The share price will drop to the amount of the dividend. Does not mean it will stay there, maybe the shorts will drive it lower.
stockscouter, hope you enjoyed your holiday break from the stock market. Thank You for your response. I have seen your name around for some time on different boards on Yahoo and admire that you do not just throw meaningless phases out on the board. I don't think anyone should base their stock selections on anything (one line) from a message board, but rather use comments as pointers for research.
I really don't know if this company is guilty of anything illegal or even stupid, I just buy in for the profit motive. The stock dropped from the 260s and appeared to have hit a bottom at the low 100, I made my first buy in. The stock dropped again 60s I think, I held on because I think the stock would come back to at least a 100.
As the stock crawled back I purchased in the 80s and doubled my holding and dropped my average price. I am of a mind of making another buy but time will tell, I am usually gone by now but this stock is moving slower than I am used to and the short sellers are still holding, well I think I have to wait for the opportunity for profit to play out.
I have doing this for a long time, say WorldCom. Seems like there is always a bounce back that one can catch and make some cash. Good Luck to both of our sides on this trade.
Thanks and see you around,
stockscouter, I am serious about trying to understand your position. Did you sell at a much higher price so you can hold as the price moves oh so slowly higher. Is there a hope that this stock will drop again? Are you not losing money by maintaining your position?
Thanks for input, Rob
Why are any of shorts still holding your positions? I don't understand how this can work from this point forward. Thanks for your input, Rob
The bad part of being a shorty is that they often sit and watch charts looking for drop in value and never check the news releases to find out why something is happening.
TD Ameritrade has the record date as 11/18 and pay date as 11/30. Common practice for special dividends.
My problem has been trying to break books down to who will own or owe how much after the split. 70/30 split but I don't know the business.
Any help? Which business do you think will be best held?
I can agree with your thinking, I let you shorties bring it down and then get in for the rebound. Mr Market always takes thing to the extremes, blood in the street and so on.