Tuesday, December 27, 2011 9:16:08 AM
Hope all of our Holiday weekend was good regardless of the mood this POS put us all in after Fridayks news.
I just got off the phone with the corporate actions team at E*Trade. They confirmed that the symbol for ENKG has changed to ENKGD and that my nearly 1 million shares have adjusted after the 200:1 split to just under 4,500 shares.
I asked them if they were tradable yet. They responded by saying there is no swing date yet that they could see, there's no way to tell when the new shares will be delivered BUT I could place an order to sell. The only thing is I am taking the risk of having my purchasing power suspended until the shares are delivered and (this is the confusing part) I may end up having to BUY BACK my shares at a higher price if they take too long to deliver (i.e. 2 weeks)
I decided not to place an order to sell through them today because they told me once I am able to see the new ticker symbol ENKGD on my portfolio list, that is the sign that the new shares have been delivered and at that time I can manually place the order to sell.
Just wanted to inform everyone of what is happening with this on E*Trade.
Happy New Year to all!
EVEN A BROKEN CLOCK IS RIGHT TWICE A DAY!
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