[ZX5chica]

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$