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Darci,
Did you happen to ask whether buyers this week would get the split? It seems to me like they wouldn't, although the more-experienced are saying we would.
Anyway, let me just throw my reasoning out onto the table.
The thing we're waiting for is the ex-date. I just pulled this story about a split from the news wires:
<<Cambrex sets 2-for-1 stock split
EAST RUTHERFORD, N.J., May 28 (Reuters) - Directors of Cambrex Corp.
authorized a two-for-one stock split, payable June 24, record June 10,
the company said Thursday.
The stock was trading at 54-15/16, up 15/16...yada yada yada>>
Now, the date people will get the split--the ex-date--is June 24. June 10 is when people must own the stock by to get the split. In this case, the record date and the ex-date aren't the same, and I've never seen a case where they are.
Gary was saying those who bought today WOULD get the split because the price has not yet adjusted. However, the price adjusts on the ex-date, which comes after the record date...in most cases.
According to the MIDL release, the record date is May 29, which has passed. Is my reasoning concerning this completely flawed?
Matt |
