Replies to post #275114 on The Golden Lounge

[Wayne R]

This could explain things;

UGAZ (9.08) reverse split history -

Since inception on 12/3/12, UGAZ has had 3 reverse splits -

1 for 5 on 9/10/15 with the price at $1.65
1 for 25 on 3/14/16 with the price at $0.91
1 for 10 on 12/20/17 with the price at $5.34

Compounded, this represents a 1 for 1250 split.

Anyone who bought 1250 shares at the opening price of $28.02 back on December 3rd 2012 paid $35,025. They're now left with 1 share worth just $9.08 for a total loss of 99.97%. Yikes.

Since fractional shares are not allowed, the position of 1 share will be cashed out at the next reverse split, ending the nightmare for this tragically misguided investment. Hopefully nobody did this ! UGAZ is strictly for short term trading.

I'd guess that the next reverse split is still roughly a year away .... time will tell.