Falling off a cliff here!
There’s been a lot of commentary on this forum about Cineworld’s (8bn) and AMC’s (5bn) debt but they look like a rounding error next to AT&T’s $180bn. If every US citizen went to the bank and withdrew $500 and mailed it to AT&T they’d still have more debt than AMC and Cineworld combined.
If AT&T were a country it’d be ranked ~40th by total debt just behind New Zealand and Taiwan, just above Hungary and Thailand.
Yet they still pay an 8% dividend, That’s what’s known as a dividend trap. It’s why just looking a yield in isolation is a bad idea.
Will Warner Discovery be available on Freetrade immediately after its listed? @Freetrade_Team ?
Apologies if this has already been answered. I am relatively new to this.
Can someone explain as to what is happening with this split/merger/spinoff thing?
I would need it in simple terms please. I bought my position on 11th March so i am wondering if i am likely to see any form of additional positions, monetry renumeration or anything like at all?
Thanks in advance for any advice.
I’m in the same position, would like to know myself!
It would suggest that we get some free shares of some sorts then? Would just be good to know. Freetrade are notmally good at letting us know.
I am wondering if @freetrade would be able to enlighten us?
If you qualify you get 0.24 shares in the new company. They’ll be distributed by AT&T and can take a while to work through to the individual holders.
Yeah pretty much answered. 0.241917 shares will be awarded to your account (could take a while) per share of AT&T share you own.
Your AT&T shares will have dropped slightly in price to account for the sale of part of the business.
The new company, Warner Bros Discovery, looks the be at around $24 at the moment and there isnt any reason why you cant sell immediately if you wish.
Due to the loss of revenue for AT&T after the spin off, they have reduced the dividend. Just something to bare in mind if that was a reason for purchase.
Anyone received theres yet?
No I haven’t yet? Starting to get concerned.
If no one has received them then I wouldn’t be too worried. They will need some time to allocate the shares.
If you haven’t received them by the time other users have, then it might be good to contact support, but for now I think they just need a bit more time.
These things take time, AT&T need to send them to the nominee company (who hold your shares) who need to them work out the fractions, send this information to Freetrade who need to action it.
The stock market moves far slower than you’d imagine looking at the graph updating for each trade.
The new shares have been allocated on another platform (E-toro ) according to their community chats. I would imagine it wont be too much longer. However another update from @freetrade would be appreciated.
Dont panic there. I have my watchful eye all over it!
I still haven’t received them
The warner discovery stock is on freetrade so I guess it shouldn’t take too much longer for the shares to come through for $T share holders
I’ve had my new shares allocated this morning