A Brazilian electric utility company which is the largest in the State of Parana.
what’s going on, have these stocks shot up!
Looks like a reverse stock split
I’ve tried selling some of these shares and it was rejected, anyone know why?
What does that. Mean
Most common reasons for order rejection are here:
A reverse stock split is when the company reduces the number of shares that exist to increase the share value. For example if you hold 100 shares and the company does a 1-for-2 reverse split your 100 shares would become 50 shares. The share price would double so your total share value wouldn’t change.
Thank you , that’s most helpful. Thought I made a killing lol.
However , it still says in my portfolio that I have the same number of shares? A bit confusing for the occasional small investor
It can take a bit of time to adjust. I’ve been through a couple of splits and I think it took a full day both times.
If it looks like you’re up by a massive amount then it’s because FT is multiplying the new price by the old number of shares. It will correct itself when trading resumes.
The split also will be the reason that your trades are being rejected. Trading is halted because the old shares are being withdrawn and new shares being issued.
Thanks for this! I knew there had been a reverse split but had no idea on the rest but all makes sense