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To: JakeStraw who wrote (7284)7/27/1998 3:28:00 PM
From: vc21  Read Replies (1) | Respond to of 14266
 
The last day to purchase to qualify for the split is August 23rd with 1 second before the market closes.

- Vic

PS- We go through this on every split. If you were to buy Aug 21, 22 and 23rd, what would they do? Say your fully priced shares are now worth 2/3 with no increase in shares you own? No, I don't think so.



To: JakeStraw who wrote (7284)7/27/1998 3:31:00 PM
From: Richard Spitzer  Read Replies (1) | Respond to of 14266
 
Not necessarily Aug 20th. You might have to allow for the three days for the purchase to clear, moving your date back to the 17th.

Anyway, this is something I've never understood. It seems to me that one day the price will be X, the next day it will be 2/3 X. So that's what you pay, no?

Rich


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