How does a Reverse Split of a Stock work? ie. CitiGroup?
Hey guys,
I just checked Citi Group and I almost lost it... It's trading at $43.
It was at like $4 a week ago.
then I found out they reversed split?
What exactly does that mean? And is that legal?
What happens to your stocks if you bought a 100 units at their old bottom price of $4?
Does that mean you only get 50 units now worth the new price of $43?
Also what I find that is misleading is that when I look at their performance history, it doesn't show you their $4 price?
http://ca.finance.yahoo.com/echarts?s=C ... f;source=;
TIA
I just checked Citi Group and I almost lost it... It's trading at $43.
It was at like $4 a week ago.
then I found out they reversed split?
What exactly does that mean? And is that legal?
What happens to your stocks if you bought a 100 units at their old bottom price of $4?
Does that mean you only get 50 units now worth the new price of $43?
Also what I find that is misleading is that when I look at their performance history, it doesn't show you their $4 price?
http://ca.finance.yahoo.com/echarts?s=C ... f;source=;
TIA
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