According to The Wall Street Journal, shareholders of record as of July 1, 2022 will receive an additional 19 shares for every share they own on Friday, July 15. The stock will then begin trading under its split-adjusted price on Monday, July 18.
So you must be holding the stock on the record date of July 1 to receive additional shares 19 days later on. However, what happens to those who sell or buy after the record date? I imagine that directly after the record date the stock price would drop because new people buying it will not receive additional shares but that that final statement of it starting to trade under its split-adjusted price on Monday July 18 confuses me?
Does it simply mean on July 18 it will be at its split adjusted price and everyone will have their additional shares issued (20:1) but as soon as the record date is over, the market will price each share at 1/20th of its price but no one will have their extra shares yet?
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