Nortel Consolidated Its Common Shares
Posted by
Sun on
December 1, 2006
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When I looked at the quote of Nortel Network (NT) this morning, I couldn’t believe what I saw: $20.96 per share, up 875% from yesterday!
What’s going on?
Well, nothing much except that now I only own 230 shares instead of 2300 shares yesterday. NT implemented the consolidation today. The reverse split is at a ratio of 10-to-1. For more information about the consolidation, click here.
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4 Comments
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Think of the employees who have options that are now over $100 per share. More likely to win the lottery. -C8j
The number certainly looks better after the consolidation, but the total value shouldn’t change.