Financial 15 Split Corp T.FTN

2.5 % Haircut = What

[novascotian2014]

Wondering after a 2.5 % Haircut ( it will take 2.5 (40%)shares to equal 1 share preconsidation , will the Share Price be Equal to $3.65/share(Dec 4th Price, as Stated in NEWs Release) * 2.5 Haircut( 40% Considation) =  $3.65 * 2.5 = $ 9.12/ share Value on Dec 17th etc..

[Ranger56]

Thats the call you have to make. I am betting the share price does not make up for the 60% haircut in share count on Dec/17. Yes it will likely rise but not to offset the 60% hit. You will start getting getting dividends again but take a loss on your share equity to get this. Overtime as the banks rise FTN will rise. A better entry point is Dec/17 or shortly there after.

[navgod]

Are either one of you watching todays price action? As I type FTN is up 37 cents ie 10% on the highest volume since March. the market has decided that it is willing to pay a premium to NAV on the prospect of recieving a dividend post consolidation with most of the adjustment taking place today. Luckily Ranger you haven't had a chance to bail before the move. GLTA 

[Ranger56]

Yes I have noticed the 10% move. I am not smart enough to know why. I could say short covering short term bounce but I would be guessing. I know many are excited about getting that sweet dividend back and maybe just taking their chances on day 1 of div announcement. Very suspicious whats going on here. Clearly Quadravest does not want a sell off prior to consolidation. Tempted to day trade this

[navgod]

As a long time short of FTN up until a couple of months ago I can guarantee you this is not short covering . The primary reason to be short FTN was the ridiculous premium it used to trade at which was no longer the case. Most of your comments tell me you are totally ignorant of how this process works. ie Quadravest doesn't give a rat's xss how this trades before consolidation. Would

[JohnWalker]

At today's current price the implied premium (post consolidation) is well over $2.00 based on Nov 30th NAV posted by Quadrevest. I just sold 50K shares at $4.09 for a capital gain of $18,750. Looking to possibly buy back in on or after Dec17th.

[navgod]

The FTN nav has  risen about 2% since the 30th(a very bad day for US banks)- that means prior to today the implied premium was less than 1/4 of the current premium you reference. I was building a  long position anticipating  some sort of premium  post consolidation but this announcement of an incremental increase in the divdend set the yield pigs off. This is the second time in