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/biz/ - Business & Finance

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18751460 No.18751460 [Reply] [Original]

>> No.18751480
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18751480

>>18751460
>he thought we're headed into a recession

>> No.18751498

You have to ride the train up to get the fun drop

>> No.18751530

>>18751460
Because millions of retards World wide thought buying this rotten futures etf would give them an easy buck and saudis had their shorts ready. Now fed is going to just brrrr this mistake out of consequences and nobody will ever learn

>> No.18751535

>>18751498
this

>> No.18751550

>>18751460
Looks like a 10-1 reverse split

>> No.18751553
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18751553

>>18751530
HAHAHHAHAHAHAHHAHAHAHAHAHAHAHAHAHAHAHAHHAA

>> No.18751572

>>18751550
IT ALREADY SPLIT LAST NIGHT
THIS IS POST SPLIT

>> No.18751599

>>18751530
would you prefer we deal with it now, masochist?

>> No.18751616

>>18751460
Mystifying isn't it? They're must be news somewhere that we don't have access to.

>> No.18751647

>>18751616
They cut their June futures

>> No.18751689

>>18751550
I am retarded. Please explain this to me as if I were 10. I had 180 shares. What does this mean?

>> No.18751693
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18751693

>>18751460
USO did a reverse stock split last night.

United States Oil Fund, LP (stock symbol: USO) has announced a 1-for-8 reverse stock split in its shares of common stock, effective before market open on Wednesday, April 29, 2020.

Our records show that you own shares of this exchange-traded fund (ETF) in your account, so we want to be sure you have the information you need.

Here's What You'll Need to Know

The 1 for 8 reverse split means that for every eight shares of USO common stock you currently own, you'll receive one share of (new) USO common stock to replace them.


The stock price will be affected by this event: it will increase to eight times what it was at the close of trading on Tuesday, April 28. When the markets open on April 29, your net position in USO will be equal to what it was before the split, plus or minus market movements.


USO will not distribute partial shares. If the number of shares you hold at the time of the split can't be evenly divided by eight, you'll receive a cash payment in lieu of fractional shares.


If you are trading options on USO, an in-the-money option will result in the exercise, or assignment, of 12.5 shares instead of the standard 100 shares.


USO will not be available for trading in Extended Hours Trading Overnight (EXTO) (normally 8 p.m. to 7 a.m. ET) on Tuesday night, April 28, or Wednesday morning, April 29.

You don't have to do anything. This corporate action will happen automatically, and we will adjust your positions once the new shares are received. However, because of the size of this reorganization, there could be delays in adjusting your account before market open on
April 29.

If you have any questions, please reply to this message to write us.

Sincerely,

TD Ameritrade Client Services

TDA 1001900 EM 04/20

>> No.18751696
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18751696

>>18751460
> he is buying a decaying negative-carrying perma-contango commodities futures based meme etf instead of cheap oil stocks

Haha

>> No.18751708

>>18751599
you subhumans are ancap free market cocksuckers only when it goes your way, the second you need to be popped in your lip for your retarded gambling you suddenly become a commie fuck

>> No.18751754

>>18751693
Thanks! so If I had 180 shares, I now have 22 shares? Big ouch.

>> No.18751756

>>18751693
i love how etfs fuck with everybody long

>> No.18751780

>>18751754
Yep

>> No.18751788
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18751788

tl;dr OP is a fucking idiot and doesn't understand what a reverse split is.

>> No.18751821

>>18751460
I WENT ALL IN YESTERDAY AT 2.13 AAAAAAAA CANT BELIEVE IT THANK YOU BIZ

>> No.18751828

>>18751647
Isn't that old news though?

>> No.18751848

>>18751788
Are you fucking retarded or just pretending. Go the fuck back to funnyjunk or iFunny. I don't even think Reddit would welcome you

>> No.18751858

>>18751550
8-1 reverse split

>>18751689
for every 8 shares you own, you now own 1 share at 8x the value at last close

>> No.18751920

Why can't I buy options on this right now?

>> No.18752555

>>18751858
>you now own 1 share at 8x the value at last close
that's not a guarantee isn't it?
it's literally determined by the first trade after the split

>> No.18752644

>>18751920
^this

Still no options chains on etrade. I want my fucking puts in now!

>> No.18753956
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18753956

>>18752555

>> No.18754591

>>18751821
Retard

>> No.18754619

>>18751498
keep dreaming, the bottom came and went

>> No.18754900

>>18754619
Imagine thinking we’ve hit the bottom for oil already.

>> No.18754972

what purpose does a "split" serve?

>> No.18755719

>>18754972
Prevents delisting if this continues to drop.

>> No.18755796

>>18754972
optics/perception mostly. yes it's that retarded.. also helps prevent delisting

>>18754619
producers are selling into the futures market knowing there is nowhere to store it.. this is just creating even more pressure that will ultimately explode downwards