Thread: Money Investing megathread extravaganza
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Old 07-01-2021, 08:07 PM   #10373
lewdog lewdog is offline
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Join Date: Sep 2011
Location: Valley of the hot as ****
Casino cash: $-1348100
Quote:
Originally Posted by Captain Obvious View Post
Any smart people want to educate me/us on reverse splits?

I bought 166 shares of STAF @ 0.57 on a whim yesterday. When I checked today, I had a message saying they performed a 1 for 6 reverse split. Now I had 27 shares at 3.44.

I just looked and it's up 52% after hours and is sitting at $5.64. What a windfall, eh?

Is this typical of reverse splits? Seems odd to me, but I'll admit to being a major noob.
Generally done for companies in trouble. Not sure on the after hours bounce but this generally isn't a financially solid company/move. But it can be done in an attempt to get listed on an exchange as well (possibly a positive outcome).
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