Makes no difference. Buying between 21st -28th is at the pre-split price and your new shares get split on the 31st.
No way will that work, the Puts will be adjusted as well. Hope no one tries that
Edit: I realise you are not that stupid, but someone probably is
Sorry just to be clear the above post was intended as a jokeā¦ I will edit to make that clear.
Hey Sergey, the 21st is the record date.
31st is the ex (effective) date.
Trades after 21st and before 31st will still be subject to the stock split.
Thank you for the reply Sam. It answers a lot of questions in the thread.
Still would be great to hear if anyone can share why do we need a record date if it has no impact on investorsā¦
Great blog post btw!
The record date is used by the share registrar (or transfer agent) to determine shareholders on the register who will be subject to the stock split.
From the Apple website:
If you sell shares on or after the Record Date (August 24, 2020) but before the Ex Date (August 31, 2020) you will be selling them at the pre-split price. At the time of the sale, you will surrender your pre-split shares and will no longer be entitled to the split shares. Following the split, the new owner of the shares will be entitled to the additional shares resulting from the stock split.
If you buy shares on or after the Record Date but before the Ex Date, you will purchase the shares at the pre-split price and will receive (or your brokerage account will be credited with) the shares purchased. Following the split, you will receive (or your brokerage account will be credited with) the additional shares resulting from the stock split."
So, in short, there is no impact for investors here really, the key date for investors on Freetrade is 31st August.
So just to confirm in plain english - If I buy a whole share between 24th and 28th August with Freetrade - that share will still get split into 5 so technically the deadline is end of market trade on the 28th?
yess that is correct
@hrochfor1 I would take this down. I donāt even understand why people are upvoting it on Reddit. This is dangerous stuff to play around with, I guarantee some people with little knowledge about investing will fall for it and lose a lot of money potentially.
I love investing jokes, Iām also part of r/wallstreetbets, but if a joke might make someone lose money without paying attention, I donāt love that anymore.
We have the responsibility to look out for each other in the investing community, especially the less-educated folks!
How long will it take to see the split shares within our Freetrade accounts?
Apple stock split showing already but Tesla isnāt despite showing the updated prices. Making my graph the wildest rollercoaster Iāve ever ridden
Joking aside, it would be nice to see corrected prices & Holdings for both quickly
Same, but I have to admit itās nice to know Iām only Ā£35 down from my original buy in priceā¦ just got to wait for the other 4 shares to show upā¦
Gobsmacked that Freetrade dropped the ball on this. The split has been known about for ages!
To be fair the Apple one has worked no problems
Ah Iām not worried yet - itās a bank holiday, reduced staffing & two stock splits to cope with - at least they are splitting them rather then selling them like some brokers are.
Splits happened, graphs & holdings will correct, hopefully before the end of the day - itās only a visual thing.
True, but the split has been known about for a while. The sensible thing to do would have been to amend everyoneās share count once the market closed on Friday, especially as they knew today was a bank holiday. That shouldnāt be an excuse imo.
Improvements definitely possible I agree
Itās not though. My shares havenāt been split, so i only have access to 1/5 of my Tesla holdings. If I want to sell, do I want to take the chance that everything will fix itself afterwards?
It just got sorted now. Graphs looking like some rollercoaster, nevertheless we move boys