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Biotech / Medical : PFE (Pfizer) How high will it go? -- Ignore unavailable to you. Want to Upgrade?

To: Jason Riche who wrote (7940)	6/16/1999 7:23:00 AM
From: P.M.Freedman	Respond to of 9523

Jason--A split will be only for changing your share numbers, but not for the share prices. For example, assuming a stock closed at $120 before its 3 for 1 splitting, the open price for that stock on the splitting day might be at any prices, $10, $100... whatever based on the company's situation on the splitting day. Of course, mostly the open price for that stock will be around $30.

To: Jason Riche who wrote (7940)	6/16/1999 7:25:00 AM
From: James Baker	Respond to of 9523

Jason, do lots of reading before you risk your cash. Any stock split takes place at the time and price of the distribution NOT when it is announced. Think about your question. 3 for 1 Split announced at 150 but stock falls to 90 before distribution. What would price these shares up to 50 post split when 1/3 of current value is only 30?

To: Jason Riche who wrote (7940)	6/16/1999 8:13:00 AM
From: Allan B.	Read Replies (2) \| Respond to of 9523

I think the confusing thing about splits is that they give a record date and a date the split takes effect. For most people the record date is not important because they keep their shares in a brokerage account in street name. The brokerage house makes all the adjustments on the night before the split takes effect. The next morning your account should show 3 times the number of shares at one third the value of the pre split price. The phrase they use about the split being effective for holders of record on June 2, I believe, is for people who have shares in book entry or certificate form. This gives the accounting department time to send out paperwork indicating that on the actual split date, they will hold an extra two shares for each share they have. Also, for shares bought in book entry or certificate form bought after the record date they get a form with the addition of the phrase"when issued",meaning that they get the additional shares when issued on the June 30, the split date.