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When Action Direct takes forever to fulfill a Sell order, and Nortel Stocks (ones you wanted to buy @ $4), go up to $24 in one day. :angry:

Flofocus,Dec 1 2006, 11:09 AM Wrote:When Action Direct takes forever to fulfill a Sell order, and Nortel Stocks (ones you wanted to buy @ $4), go up to $24 in one day.  :angry:
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I was silly and held on to my Nortel stocks when they were up at 120$, taking my dad's advice that they would split...

so what they did the other day was what is called a reverse split. Basically, they divided all the stockholders options by a certain amount (I think my statement said 10), and then multiplied the stock $$ by that. It makes for a more appealing stock option to buy when it's at 24$ than when it's at 4$

I see...so I dont really gain anything from it...

Reading now.

edit: I should probably be thanking action direct actually! :lol:

I haven't gotten into unsheltered investing yet. Everything we've invested is DCPP/RRSP.

Funny how you mention investments today of all days. I have to cash in my little nest egg of savings to put more money down on the house.
I bought it originally for $18 a share, bought some more at $24 and then bought some more at $38.
Today, I sell..........$97 a share. I started buying the shares 8 years ago and have held on for just this day.
Live long and prosper.

So you're helping me pay off the new ride, Dad?

I can call you Dad now because I bought a hatch... a red hatch, right? :o

I didn't pay for his car.

So I aint paying for yours!

heh, I have one of those "back pocket" type nest eggs thanks to my life insurance company demutualizing all those years ago.... Stock is at a value where I could cash 'em out and pay for an FI conversion with change left over.... I'm waiting 'till they can pay for a full 5.0L conversion w/auto....

I think I'll be waiting a while <_<

NefCanuck

I like mus lce relaxers and beer make it hard to type woo hoo boo Ya'

DD1,Dec 1 2006, 09:33 PM Wrote:I like mus lce relaxers and beer make it hard to type woo hoo boo Ya'
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and your single? whodathunk :lol:

ZX5chica,Dec 1 2006, 11:20 AM Wrote:

Flofocus,Dec 1 2006, 11:09 AM Wrote:When Action Direct takes forever to fulfill a Sell order, and Nortel Stocks (ones you wanted to buy @ $4), go up to $24 in one day.  :angry:
[right][snapback]218164[/snapback][/right]

I was silly and held on to my Nortel stocks when they were up at 120$, taking my dad's advice that they would split...

so what they did the other day was what is called a reverse split. Basically, they divided all the stockholders options by a certain amount (I think my statement said 10), and then multiplied the stock $$ by that. It makes for a more appealing stock option to buy when it's at 24$ than when it's at 4$
[right][snapback]218165[/snapback][/right]

Well that explains the $4G I made overnight on Thursday. I was wondering. ;)