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it is trading higher than 1 months ago the worst is over
and NIV told the shareholder the dept will be payed at the end of
the year
so far nothing to say just enjoy the ride
As everybody can see they have over 117 Mio regulatory surplus
Fastmatch on the final stage just waiting which stockexchange is
buying and to which price as mention in the article
Stronger Operation figuers
The puzzle comes togheter and seems the dept will be payed by the end of the year.
What I´m waiting for is the next aquisition even they have strong Operation figuers they have to make sure that it will be growth for the next couple of years.
Yesterday trading shows some buyers coming back we will see if this continues today.
FastMatch Sale Nears, Which Exchange Will Emerge as the Buyer?
http://www.financemagnates.com/institutional-forex/exchanges/fastmatch-sale-nears-which-exchange-will-emerge-as-the-buyer/
FXCM shareholder vote overwhelmingly passes resolution on 1:10 reverse share split – LeapRate Exclusive
By LeapRate Staff on Monday, 09.21.15
FXCM shareholder vote
LeapRate Exclusive… LeapRate has learned that the shareholder vote held today at FXCM Inc (NYSE:FXCM) on the issue of a 1:10 reverse share split of the company’s shares overwhelmingly passed the resolution in favor of a reverse split.
The reverse split is required to prevent FXCM’s shares from being delisted from the NYSE. NYSE rules require its listed companies to maintain a minimum $1.00 share price.
FXCM’s shares has been languishing in the 80-90 cent range for the past two months, now sitting at $0.85. And as expected, FXCM received a formal non-compliance notification letter from the NYSE on September 3, giving the company six months to somehow ‘get compliant’ – i.e. somehow get their share price above the $1.00 level.
Sources in attendance at the meeting, as well at sources at the company, have informed LeapRate that based on tabulation reports received following the meeting that the proposal has passed. However, FXCM is awaiting official results which will be formally disclosed with the SEC on a Form 8-K filing.
When the reverse split is indeed effected, each FXCM shareholder will receive 1 ‘New FXCM’ share in return for tendering 10 ‘Old FXCM’ shares. A shareholder currently holding 1,000 FXCM shares will receive instead 100 New FXCM shares.
And – if basic math holds – the New FXCM shares should therefore trade at about 10x the value of the current share price, or at about $8.50 – well above the NYSE’s $1.00 minimum.
FXCM Completes Sale of FXCM Hong Kong to Rakuten Sec
Fxcm Inc. Class A (NYSE:FXCM)
Intraday Stock Chart
Today : Tuesday 22 September 2015
Click Here for more Fxcm Inc. Class A Charts.
FXCM Inc. (NYSE:FXCM), a leading online provider of foreign exchange (FX) trading and related services, today announced that Forex Trading, LLC, a subsidiary of FXCM Newco, LLC ("FXCM") has completed its sale of FXCM Asia Limited ("FXCM Hong Kong") to Rakuten Securities, Inc. ("Rakuten Sec"), a top 5 FX broker in Japan, and a subsidiary of Rakuten, Inc. ("Rakuten") (TOKYO:4755), one of the world's largest Internet services companies, for a total consideration of approximately $38 million.
Rakuten Sec will continue to use the FXCM trading system for FXCM Hong Kong clients under a white label agreement with FXCM and will continue to service local forex traders as FXCM Asia powered by Rakuten Sec.
Additionally, FXCM anticipates repaying $33 million outstanding under its credit agreement with Leucadia and will have repaid $115 million to date, leaving $195 million remaining.
"The company remains focused on completing our near-term strategy of eliminating the Leucadia debt through the sale of non-core assets and cash generated through operations as well as accelerating the growth of our core business through a number of FX and CFD initiatives," said Drew Niv, CEO of FXCM. "With the close of this deal we have made another positive step towards completing our goals."
Frankfurt up 6%
More than 10 reason to buy IMO
I telling you the Operation is stronger than 2014 this is fact
High was 17.44 we trading now around 0.90 and everybody knows why
Dept is payed 195 Mio left
Still can use 117 Mio Regulatory Capital Surplus
FastMatch can eliminate Leucadia dept including the 117 Mio regulatory surplus the dept is payed just virtualy
Additional still have None core assets pending for sale such as
FXCM Security UK In final stages, Lucid Process underway
V3 Process underway
Worst case if FXCM is sold from Leucadia in 2 years look at the table we will get between fairvalue 300-600 Mio that means 2.09 to 2.79 USD
Sold FXCM LUK Sharholder
gets
100M 50M 50M 0.70
200M 100M 100M 1.39
300M 150M 150M 2.09
400M 220M 180M 2.51
500M 310M 190M 2.65
600M 400M 200M 2.79
700M 490M 210M 2.93
800M 580M 220M 3.07
900M 655M 245M 3.42
1000M 715M 285M 3.97
(Mis)understanding FXCM’s $500 million 1H loss and valuation
http://leaprate.com/2015/08/misunderstanding-fxcms-500-million-1h-loss-and-valuation/
All of the new aquisiton belongs to FXCM and has nothing to do with Leucadia waiting for the next aquisition this is a key strategy buying new customer
End of the year the Leucadia garbage is away.
The momentum has changed buyers coming slowly in
Shorts has reduce under 4 Mio
Down risk is gone
Split permits Funds,Investor,Asset Manager to buy again the
shares they had internal regulatory that says not to buy stocks
under 1 USD value
No risk no fun
3 Broker recommention over 1 USD
1 Broker recommentaion under 1 USD
Fair value around 1.31
7.47% 0.905 game over for the shorts
next week over 1 USD
after reverse split 13 USD
End of the year 38 USD
Shorts are done
What´s happen to the Etrade FX Client do the move over to FXCM?
Regulatory Capital surplus of over 117 Mio
Strong Operation.
Next none core asset sales is comming waiting for FastMatch Process In final stages
Pending:
FastMatch Process In final stages
Lucid Process underway
V3 Process underway
FXCM Security UK In final stages
FXCM Japan sold completed
FXCM Hong Kong sold completed
METRICS SHOWS OPERATION GETS EVERY QUARTER STRONGER
IT IS IRONIC BETTER THEN LAST YEAR STILL TRADING SO LOW
NEW YORK, Sept. 16, 2015 (GLOBE NEWSWIRE) -- FXCM Inc. (NYSE:FXCM) today announced certain key customer trading metrics for August 2015 for its retail and institutional foreign exchange business.
Monthly activities included:
August 2015 Customer Trading Metrics from Continuing Operations (1)
Retail Customer Trading Metrics
• Retail customer trading volume (2) of $329 billion in August 2015, 4% higher than July 2015 and 10% higher than August 2014.
• Average retail customer trading volume (2) per day of $15.7 billion in August 2015, 14% higher than July 2015 and 10% higher than August 2014.
• An average of 594,294 retail client trades per day in August 2015, 11% higher than July 2015 and 51% higher than August 2014.
• Active accounts (3) of 180,722 as of August 31, 2015, an increase of 1,145, or 1%, from July 2015, and an increase of 1,904, or 1%, from August 2014.
• Tradeable accounts (4) of 158,300 as of August 31, 2015, a decrease of 587 accounts, or 0.4% from July 2015, and a decrease of 41,077 accounts, or 21%, from August 2014.
Effective July 1, 2015 Institutional Customers trading via the FastMatch Platform became direct customers of FastMatch. Accordingly, the Company's trading metrics for July 2015 previously reported have been restated to exclude FastMatch volumes. You can find the restated customer trading metrics on our website under: Customer Trading Metrics.
Institutional Customer Trading Metrics
• Institutional customer trading volume (2) of $47 billion in August 2015, 27% higher than July 2015 and 20% lower than August 2014.
• Average institutional customer trading volume (2) per day of $2.3 billion in August 2015, 44% higher than July 2015 and 18% lower than August 2014.
• An average of 34,957 institutional client trades per day in August 2015, 18% higher than July 2015 and 117% higher than August 2014.
More information, including historical results for each of the above metrics, can be found on the investor relations page of the Company's corporate web site, www.fxcm.com.
This operating data is preliminary and subject to revision and should not be taken as an indication of the financial performance of FXCM Inc. FXCM undertakes no obligation to publicly update or review previously reported operating data. Any updates to previously reported operating data will be reflected in the historical operating data that can be found on the Investor Relations page of the Company's corporate web site, www.fxcm.com.
(1) Customer Trading Metrics from Continuing Operations excludes discontinued operations of FXCM Japan and FXCM Hong Kong.
(2) Volume that FXCM customers traded in period is translated into US dollars.
(3) An Active Account represents an account that has traded at least once in the previous twelve months.
(4) A Tradeable Account is an account with sufficient funds to place a trade in accordance with FXCM trading policies.
Disclosure Regarding Forward-Looking
This is exactly what´s happen. And some FX Investors went to a negative cash Balance account. However most of the overall writeoff/loss is non cash and non operational, and has nothing to do with FXCM’s operations
A good part of FXCM’s 1H loss is real, in the form of negative client balances. FXCM was fairly balanced and hedged on paper on January 15. However the clients (and liquidity providers) which won big when the Swiss Franc spiked 20% that day had to be paid, while the ‘balancing’ gains FXCM made from clients which were on the wrong side of the CHF could not be collected
hi
do you have more details this would be great?
E*TRADE FINANCIAL CORPORATION ANNOUNCES SECOND QUARTER 2015 RESULTS
Second Quarter Results • Net income of $292 million, or $0.99 per diluted share • Net income of $72 million(1), or $0.25 per diluted share(1), excluding an income tax benefit related to finalizing an IRS audit • Total net revenue of $445 million • Total operating expenses of $309 million, including severance of $6 million and $9 million related to a third party contract amendment • Provision for loan losses of $3 million • Daily Average Revenue Trades (DARTs) of 149,000 • End of period margin receivables of $8.1 billion • Net new brokerage accounts of 25,000 and an annualized attrition rate of 8.7 percent, excluding the impact of escheatment and shutting down the global trading platform(2) • Net new brokerage assets of $0.9 billion; end of period total customer assets of $302 billion
195 Mio left dept payed end of the year.
FXCM Japan sold completed
FXCM Hong Kong sold completed
Pending:
FastMatch Process In final stages
Lucid Process underway
V3 Process underway
FXCM Security UK In final stages
Regulatory Capital surplus of over 117 Mio
FXCM Completes Sale of FXCM Hong Kong to Rakuten Sec
http://www.cnbc.com/2015/09/14/globe-newswire-fxcm-completes-sale-of-fxcm-hong-kong-to-rakuten-sec.html
Fair value 1.31 Short Position has reduced from 14 Mio in January to 5 Mio in September
http://www.google.ch/url?sa=t&rct=j&q=&esrc=s&source=web&cd=23&ved=0CDMQFjACOBRqFQoTCJr7uYKo9scCFUi9FAodYqwJNg&url=http%3A%2F%2Fquotes.morningstar.com%2Fstock%2Fanalysis-report%3Ft%3DXNYS%3AFXCM%26region%3Dusa%26culture%3Den-US%26cur%3D%26e%3DeyJhbGciOiJSU0EtT0FFUCIsImVuYyI6IkExMjhHQ00ifQ.GRTI1xBX6XeeTVEyA9wFCsJ36RzQr4Bo_09jCxHpsRJPYBo2F_5WB1YuIFjFazDthMbPsX4JseNTX8V7L3SCpk6HNBOOwvjRV9oQk72X_PHb6xNCPDtobTx0wkyT21_e14JkMyVp-uJLmxACSMzaJ4GprCHw6ujiZOBPsl08MeY.EjLtkBpGm6QRSdDU.0eRCLeZFF7Vi_y06fYTBZUnO_TyNtoerb9siRQ84bb6aN5Mun-afBEOQ2RrxNPxgA9vsQPanS60T7CFjkcmhbCFsdkGKOeVDRhSS-jdYV90VJtwIhkjURBmi5KpHyR4h1A7Wh5y-uC2CIthn6TpOIYCchv73e_Qp-ZUj8nSG5c7W7ayCgsy30iDrZAXoL_OZ4U9JULus_TGAvIWUptFeXGtAQOldggskCwNjolg.qLr0GPAFBnfuR_NVuSeH2A&usg=AFQjCNEJMsj3MUoqmcMEliKjPavo5lAKyw
Online Forex Trading to Hong Kong Traders
FXCM Asia Limited (“FXCM Asia”), a leading online provider of foreign exchange trading in Hong Kong, today announced that it will continue to service local forex traders as “FXCM Asia powered by Rakuten Sec”. FXCM Asia was acquired by Rakuten Securities, Inc. ("Rakuten Sec") under a definitive agreement signed between Forex Trading, LLC ("FXCM") and Rakuten Sec on Sep 11, 2015. The acquisition marked Rakuten Sec’s expansion into a new market - Hong Kong, ranked the third largest global financial center^ after New York and London, and an ideal place for Rakuten Sec to tap into further opportunities in China and Asia.
Rakuten Sec is a top five FX broker in Japan, and a subsidiary of Rakuten, Inc. ("Rakuten") (TOKYO: 4755), one of the world's largest internet services companies. The company has now assumed full ownership of FXCM Asia. By combining Rakuten Sec’s sizeable, competitive operation with FXCM’s forex innovation, expertise, and renowned client support, FXCM Asia is well positioned to continue leading the Hong Kong FX industry. Pursuant to the agreement, Rakuten Sec will continue to provide the FXCM trading system to clients of FXCM Asia. Forex trading by existing FXCM Asia clients will be unaffected.
"Traders can expect not just better support, but also a better trading environment and, potentially, a broader suite of trading products over the long term." said Yuji Kusunoki, President of Rakuten Sec. "This is the commitment of FXCM Asia, now stronger, more efficient, and more competitive than ever as a result of operational synergies realized from Rakuten Sec and FXCM joining forces. We have an extremely competitive forex pricing model, market-leading trading technology and a talented team with deep industry expertise. We are uniquely positioned for future growth."
FXCM Asia is as dedicated as ever to its mission of bringing one of the best online FX trading experiences available to traders in Hong Kong. With FXCM Asia, traders can gain access to raw FX spreads with no markups on a low, fixed commission structure - EUR/USD and USD/JPY as low as 0.2 pips on average†. Traders also have access to No Dealing Desk (NDD) forex execution — a fair and transparent execution model that eliminates the trading conflict between a broker and a trader. FXCM Asia will continue to offer an unparalleled trading experience to traders through the award-winning trading platform* Trading Station. They can choose between three powerful ways to trade: desktop, web, or mobile, using one simple login. In addition, traders will continue to benefit from world-class research and analysis through DailyFX, one of the world’s leading news and information sources for FX.
FXCM Asia will continue to offer the same great client trading support through its existing investor center in Central. The company’s phone, fax, and email will all remain the same.
bought today again will see if the reverse split will takes place over or under 1 USD
In Frankfurt up 14.36%
this seems very interesting in this levels will buy some right now
it seems down risk 15% 20 Mio short recovery could come very soon
sorry wrong Forum
Missing the opening ????
Frankfurt +1.74% bid is higher then yesterday closing
today it seems very shaky
Frankfurt up 7% to the mars
FXCM is worth more than 2 USD yet still 100% upside
If FXCM gets sold sharholder get
FXCM Sold Leucadia FXCM Per FXCM
100M 50M 50M 0.70
200M 100M 100M 1.39
300M 150M 150M 2.09
400M 220M 180M 2.51
500M 310M 190M 2.65
600M 400M 200M 2.79
700M 490M 210M 2.93
800M 580M 220M 3.07
900M 655M 245M 3.42
1000M 715M 285M 3.97
http://leaprate.com/2015/08/misunderstanding-fxcms-500-million-1h-loss-and-valuation/
If the Loan is payed by the end of the year 5 USD
No comment
Crusen Monday, 08/24/15 12:10:52 PM
Re: Lone Wolf post# 17855
Post # of 17901
This will not go above a dollar until after the reverse split.
(Mis)understanding FXCM’s $500 million 1H loss and valuation
http://leaprate.com/2015/08/misunderstanding-fxcms-500-million-1h-loss-and-valuation/
By LeapRate Staff on Monday, 08.10.15
LeapRate takes a deeper look at understanding FXCM’s half-billion dollar loss in 1H-2015 – and why FXCM shares are trading so low.
FXCM loss explained
Poor FXCM.
They had the indignity of not only losing upwards of $275 million (in the form of negative client balances) due to the ‘Black Thursday’ Swiss Franc spike, requiring a very onerous bailout rescue loan from Leucadia National Corp (NYSE:LUK), but they did so on January 15.
Why does the date matter?
Had Black Thursday occurred, say, back in mid December, then FXCM would likely have written off (most of) the financial hurt from the entire episode in Q4, and would have begun 2015 anew with a somewhat clean accounting slate. They of course would still have owed Leucadia all that money plus a major chunk of any future sale proceeds of the company (more on that below) as they do now, but at least from an accounting point of view the deed would have been done.
But that’s not what happened.
Since the loss happened early in Q1 of this year, the large loss gets to be repeated and reminded to investors in each quarter’s financial report for the remainder of the year – Q2, Q3, Q4 – as year-to-date financial statements are presented alongside the quarter.
And with the total (accounting) loss at FXCM topping the half billion dollar mark as of June 30, that provided some good FXCM-bashing fodder at certain blogs choosing to sensationalize FXCM’s ‘huge’ loss. As we explained above, that will probably continue later in the year as Q3 and Q4 are reported.
However we believe that most in the financial community do not really understand the $392 million ‘Loss on derivative liability — Letter Agreement‘ which FXCM took in the first half of this year, nor the $522 million net loss it suffered. Nor, for that matter, the reason that FXCM – despite reporting some fairly healthy trading volumes the past few months – is now seeing its shares head down into Penny Stock range and trade at below $1.00.
Let us explain. First, the large writeoff/loss.
A good part of FXCM’s 1H loss is real, in the form of negative client balances. FXCM was (we believe) fairly balanced and hedged on paper on January 15. However the clients (and liquidity providers) which won big when the Swiss Franc spiked 20% that day had to be paid, while the ‘balancing’ gains FXCM made from clients which were on the wrong side of the CHF could not be collected. Real money lost. Real cash out the door.
However most of the overall writeoff/loss is non cash and non operational, and has nothing to do with FXCM’s operations and corporate health, but rather with accounting charges FXCM needs to take due to US GAAP accounting rules thanks to the future benefit that FXCM gave up to Leucadia.
Leucadia’s ability to force a sale of FXCM in about two and a half years, plus the fact that Leucadia will get a large/majority portion of the proceeds from a sale of FXCM or its assets (see Table A below), must be accounted for today by FXCM as a ‘derivative liability’. Using fairly complex calculations, FXCM and its accountants have to figure out something of the sort: What is the current value of the ‘option’ Leucadia has to get some/most of the sale proceeds of our business?
At the end of Q1, FXCM estimated that value to be about $292 million – and all of that had to be recorded as an expense of the company. No cash out the door, just a large ‘accounting’ hit.
During Q2, FXCM had to increase that what-our-shareholders-will-have-to-give-up-in-the-future-to-Leucadia charge by an additional $100 million, charged as an expense in Q2. Ironically, FXCM had to take that additional $100 million charge because it was doing better – since FXCM was now in better shape operationally, the value given up to Leucadia is greater. In FXCM’s words, ‘due to an increase in the estimated value of the Letter Agreement.’
The better FXCM continues to do, the more it likely will have to expense in the future. Ironic. But again, it doesn’t and shouldn’t affect FXCM’s operations or perceived financial health.
So now for Question #2: Why are FXCM shares trading so low?
To explain, we first need to look at the FXCM-Leucadia agreement. This (taken from FXCM filings) is how the division of future sale proceeds of FXCM will go:
FXCM sale proceeds allocated
Assuming that FXCM pays its loan to Leucadia back in full (meaning that we can ignore the first line of the table), if FXCM is sold at some point down the road (as seems likely from the agreement) then Leucadia and FXCM shareholders split the sale proceeds 50-50, up to $350 million. If FXCM is sold for more (up to a total sale price of $850 million), then Leucadia gets 90% (!!) of those additional proceeds. FXCM shareholders get just 10%.
So unless FXCM is sold for more than $850 million (which we view as unlikely), FXCM shareholders are basically capped out at between $2.50-$3.00 per share, as the following Table B shows.
FXCM sale proceeds divided
To briefly explain Table B above, if FXCM is eventually sold for, say, $300 million, Leucadia gets half of that ($150 million) and FXCM shareholders the other half. With about 71.74 million FXCM shares outstanding (after accounting for the conversion of FXCM’s Class B shares into ‘regular’ Class A shares), that means that FXCM shareholders can expect about $2.09 per share.
Were FXCM to be sold for double that price, or $600 million, FXCM shareholders’ take would increase to just $200 million, or $2.79 per share.
FXCM’s current share price in ‘Penny Stock’ range of $0.96 is well below that, but remember that everything has to go well for that $2.09 or $2.79 to be actually realized. A lot could also go wrong.
And, as one analyst mentioned to us, why buy a stock with effectively capped upside? All stocks have risk, but you may as well take that risk when you at least have greater upside if the company you are investing in does well.
Where are the Facts?
800-pound gorilla in the room
price prediction on Vetr for this Dead Cat
Pig
do you have a zoo at home.
Sorry that's too stupid close the conversation
The fact is operational:
The company´s Operation is in a robust shape and has inproved the metrics from month to month.
Aktive Tranding Systems:Trading Station,Meta Trader4,FXCM Pro,Fast Match, Trading Station Web, Mirror Trader, Plattform, Ninja Trader Plattform, Mobil Platforms for multiple devices and there are a lot more
Metrics figures were up 43% compared to last year.(without CitiFX Clients
2Q will be out in 2 weeks. This will confirm the work that has been done after January.
Managment is focus on the strategy not on the short term stock Price.
Accelerating the growth of core business through a number of FX and CFD initiatives
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
Fact is dept payment
Through May 11, 2015, They made Leucadia loan repayments of $81.6 Million
FXCM Hong Kong sold for approximately $36 Million and expect the transaction to close in Q3 of this year subject to regulatory approval.
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
Expected to come 2Q and 3Q
The company’s strategy and main focus is to Targeting significant reduction in debt through non-core asset sales and cash generated through operations
FXCM will complete several more dispositions of non-core assets in the upcoming 3 quarters to further reduce the debt with Leucadia
For the next moth FXCM metrics figures will increase massiv with
the CitiFX Pro.CitiFX Pro clients were only transferred to FXCM on Friday June 26th and therefore were not on the fillings for 2 trading days means metrics will increase again for the next month.
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
Pending None Core Asset Sales
FXCM UK Sales in Final Stages
Fast Match Process underway
Lucid Process underway
V3 Process underway
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
Corporate Action Reverse Split after 3 Main Events
Reverse Split 1:10
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
Do you think all of them are dead cat or pig?
FXCM, through its operating subsidiaries, employed 900 individuals as of December 31, 2014.
I told you yesterday bought and sold today this is how it works
Sometimes you have to catch a falling snife.
You always need a gambling position.
Still long with my main position not selling to the shorts
IMO I think this is not a short covering. The volume is to low.
Yes the did in May 2011 but finally FXCM has 24% short sellings
it is important to bring this out of Business.
At this point I think all Investors are disappointed.
What I would expect from the Management is to stabilze the Situation in the first step.
Apply by the Sec Short Sale Restrictions to clean the garbage befor the 2Q earnings. This would show the real value and not
the manipulated once.
Hi did not understand your opinion?
You saying after the Revers Split they issue 50 or 100 Mio
at 2 Dollar that means the old shares are worth 0.20 Cent
The share price is right now 1 USD
panic modus is always good to buy
bought right now an will buy some more we will see if this pig
rebounds
I´m not giving my shares to the Shorts.
The November 1.50 strike will be after Split 15 USD nothing more
At least the global custodian knows at the split settlement day wich market members are short.
Each shareholder gets for 10 Shares 1 new . Right now there are 50.7 Mio Shares out that means after split only 5 Mio Shares
Example In 2011, Citigroup executed a 1-for-10 split that took its stock from around $4.50 a share to about $45 literally overnight.
Companies pull off reverse splits to keep their stock prices out of the cellar. In part, it's aesthetics and public relations: A stock price in the pennies-to-a-few-dollars range just looks bad. But there are also practical reasons: To remain listed on a major stock exchange, a company usually has to maintain a stock price above a certain Level
Everyone can express his opinon
I wish you luck in your trading strategy
I did not tell you a liar. I just wanted to know where this statement came from.
Good luck
I know Citigroup FX is excluded because it was just only 2 days
trading last month. I had a mail discuss with Jaclyn Klein
And why is not mention the immigration figures from CitiFx? – As stated in our SEC filing form 8K, the accepted CitiFX Pro clients were only transferred to FXCM on Friday June 26th and therefore were only on our books for 2 trading days in the month of June. http://ir.fxcm.com/secfiling.cfm?filingID=1144204-15-33116&CIK=1499912
Regards
Tell me why should it be a penny stock
If I can understand the reason so I can continue to develop myself
If there is a sustainable basis for a penny stock please tell me the reason.
But I need you opinion not Citibanks