Nortel Consolidated Its Common Shares

By Sun

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 Responses to “Nortel Consolidated Its Common Shares”

  1. Big Cajun Man |  Dec 01, 2006 at 11:15 am

    Think of the employees who have options that are now over $100 per share. More likely to win the lottery. -C8j

  2. The Sun |  Dec 02, 2006 at 2:13 pm

    The number certainly looks better after the consolidation, but the total value shouldn’t change.