I found this...
Direxion To Reverse-Split FAZ/FAS
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I found this...
Direxion To Reverse-Split FAZ/FAS
Pretty good day :)
http://www.tsptalk.com/images/mb/070909.gif
I'm not sure I have ever seen a reputable traded equity vehicle do a 10 to 1 reverse split. Looks funny. I've seen a few dogs (bad stocks) do it, but not one with this volume.
I hear you, but it had to do with saving costs because the penny bid/ask spread represented a higher percentage loss just getting into a $3 or $5 stock.
Now I see, with the 54.33 bid and 54.35 ask, it's just a .02 spread instead of .10 if you had bought 10 shares at $5.43/share.
Thanks everyone for helping out. I wasn't in FAS/FAZ but had been watching it.
Just imagine how much money gets 'stolen' every day from individual investors who play this penny stock.
Computer traders: Buy, dump, buy, dump, buy dump.... all in a matter of .05 seconds.