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Microcap & Penny Stocks : MIDL .... A Real Sleeper
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To: Rob D. who wrote (2012)7/7/1998 12:55:00 PM
From: Ga Bard  Read Replies (1) of 7039
 
Here is an email I got that wanted me to post his opinion.

Ga Bard,

The shareholder of record date on a stock split simply assigns a DUE
BILL on the shares. This means that any shares traded with the due bill
are entitled to the split shares. If you are an SOR, but sell before
the X-date, you sell your right to those shares, because you are selling
at a higher price. The person buying those shares will receive them
with the Due Bill and will receive the shares from DTC. This is why the
price has dropped today. NASDAQ has split adjusted the price to take
into consideration the additional shares. If you buy today, you buy X
(without) the due bill and hence will not receive the additional shares
(and you shouldn't since you payed a lower price). Maybe you can post
this on SI.

Hope this helps because I do not know.

GB

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