So hear me out. I know this would only work for small $ gains and only once per account. But I wonder how much smart traders make off reverse splitting per year? Here is my recent example (that worked).
$CYN just did a 100 for 1 reverse split. Stock traded at roughly $0.05 earlier this week and now after split is at like $4.16. I had 1,700 shares. So I bought 1 extra one at $0.05. Now I have 18 shares. (got 99ea for free during the split).
I also bought 1 share in my HSA account and 1 in another account.
If a trader was to constantly look for opportunities like this, I am sure there could be a few extra $ made? Granted, it scraping the bottom of the barrel and it's just a few bucks… But hey – a dollar is a dollar. 😀
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