RE:RE:Just a theoretical questionmouserman wrote: amugsgame wrote: So with many of the splits are now hammered there would seem to be a potential for some NAV's to fall below $10. At that point is there the potential for the "A''s - worthless and perhaps trading for pennies - to be delisted?
No, i have seen several splits trading at pennies with an intrinsic value below 0, and they seem to carry on for a while and eventually bounce back up.
Very rarely does the split fund get wound up. They have been bought out by other companies at times, who absorb the assets at a discount.
FTN will not get wound up,,, but the NAV of the commons could reach zero, after today really not all that far to go.
Yeah, I took a look at PIC.A not long ago. When first issued, A shares had a notional value of $10 and Pref shares $15. There was a month or so many years ago where the Pref shares had NAV of $14.85 or so and the A shares were worthless (actual NAV of ZERO). Even then though A shares traded about $1.40.