i bought 370 share of VRNM at 1.10 back in Feb. i just checked my scottrade account and i dont have a price for my position on vrnm.. it says N/A now vrnm changed to vrnmd which is now trading around 7 dollars. yesterday the 1:12 reverse stock split took effect. can someone explain what is going on?!
ok so now i do have a position for vrnmd for 30 share at 7.35. i understand the reverse stock split which is why i now have 30shares from 370 shares. which equals balances out from the old position i had 370 share X .60=222 with the new 30 share X 7.36= 220 Verenium also plans to change the name back to vrnm in october. is there any strategy to profit from this stock? should i cash out? what are they trying to do?