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Message
New to Trading- Mandatory Reverse Split
Posted on 3/11/19 at 8:54 am
Posted on 3/11/19 at 8:54 am
Hey Everyone, Just started trading for the first time.
I purchased DCAR stock last week at 0.5275 (220 shares)
over the weekend DCAR did a MRS and my share quantity dropped to 36. i am using TD Ameritrade currently. there was a "mandatory reorganization fee" of $38.00
i'll admit that i was ignorant of reverse splits, but regardless, for such a small valuation, is that a normal fee?
I purchased DCAR stock last week at 0.5275 (220 shares)
over the weekend DCAR did a MRS and my share quantity dropped to 36. i am using TD Ameritrade currently. there was a "mandatory reorganization fee" of $38.00
i'll admit that i was ignorant of reverse splits, but regardless, for such a small valuation, is that a normal fee?
This post was edited on 3/11/19 at 8:55 am
3
Posted on 3/11/19 at 9:47 am to jtiger123
Posted on 3/11/19 at 9:55 am to jtiger123
I think that fee is absurd. You didnt order the 6:1 split, the company did
Posted on 3/12/19 at 9:57 pm to jtiger123
First lesson to learn: stay away from penny stocks.
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