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Microcap & Penny Stocks : VLVT (was CSMA)
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To: Dick Jaffe who wrote (10367)12/23/1998 8:22:00 PM
From: TraderGreg  Read Replies (1) of 11708
 
Dick, if people who sold the CSMA shell after the X dividend DON'T get their spinoff shares, there will be a riot. That is what the whole spin off/dividend concept is about. Some people get screwed because they sell the parent BEFORE X dividend date. This results from the erroneous belief that the date of record is what counts.
Several people have told me that their broker said that, while the spinoff shares had not been put in their account yet, they will get them...whether or not they hold the CSMA shell.
I have NEVER known of ANY instance where the X dividend date is NOT gospel.
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