RE:FTN - what's the back story here
There was a share consolidation in Nov 2020, for every class A share you owned, you would now have only 0.4 share. So if you had 1000 shares, you would now own only 400. That's why the chart looks a little strange if you are looking at prior to the consolidation, such as a 5 year chart. The share price was NEVER at $26 but was in the $12 area, and has never quite recovered. As I owned only a small amount of FTN when this happened, it was not a big deal for me, but for those who owned 1000 or more, well, let's just say a lot of investors owning FTN were not too happy. I do now own quite a bit of FTN as I feel they are one of the better splits out there, but I'm cautious and always keeping an eye on the NAV and the premium. Many thanks to Mouserman for providing that valuable information. You can find the particulars in the Nov 19/2020 news release here: https://www.quadravest.com/ftn-news