UGAZ drops too fast? No worry today 1 for 10 reverse split!

I think they know 1 for 5 is not enough, why not 1 for 10? LOL never drop to zero!
Well it is dropping around 8% today...even after 1 for 10 reverse split from $5 range to $50 range....lol

 

Suggest caution trading "reverse split" issues. Most keep grinding down. Citibank a notable exception.

 

haha !!! This reminded me of what happened to me decades ago.

I went to buy such cheap cheap stock with reverse split.

then price became even much more cheaper.
And I went to buy more.
and the price became even much more cheaper.

Those were the 'wonderful' days.

well. for those who wants 'wonderful' experience, go ahead and buy tons of very cheap stocks.

 

Reverse splits are how issues show on the charts of having once been "$150,000/share", but now $.49.

 

with such low price, better make it 1 for 1000 reverse split

 

C got killed after their initial reverse splits post crisis. Would have to get back to 350/sh to be break even.

 

Only partially true. Not really talking about "getting back to highest pre-split price". May eventually do so, but in the meantime...

C got down to $.99/share and had a 1:10 reverse split. (I know, I was watching it because they were the custodian for my IRA... considered, but unfortunately didn't buy 1 Million shares). Now >$75. That wouldn't have been the world's greatest trade, but not chopped liver, either.

 

What is "C"?

 

Stock symbol for Citigroup, formerly Citi Bank.

 

Look at long term charts of DRYS and UVXY to see how reverse splits usually end up