Ok guys, here's a tough one. On December 1st, I bought shares of
CTL pretty much near the close of the day, at a price of
$43.88. According to IB and stock charts on that day, that was the
close of the day, and the price I bought. HOWEVER, yesterday, I
checked out the chart on StockCharts.com (see the link), and it NOW
says that the high of that day was around $43.25ish. In fact, it
looked like the entire chart (that day and the whole history) has
been adjusted down by about $0.60. Clearly the stock on the chart
is currently higher than tehe high of Dec 1st, yet I'm showing
a loss since I bought it at $43.88. Does anyone know what would
cause an entire chart to go down by $0.60? It's not a big deal, but
I'm very curious what happened. Thanks!
Yup, you're right. I should have checked. (Guess that tells you
how few dividend stocks I've owned!) So does that mean if I buy the
day before the dividend (on Dec 2nd) that I get the financial
shaft, since the price automatically goes down by the amount of the
dividend, but I bought after the ex-dividend date? (If that's
the case, why in the world were so many people buying in the few
days before the dividend was paid? That was some pretty big
volume!)
You mean I get more shares to compensate if I bought the stock
after the ex-dividend date but a bit before the dividend is paid?
It would make sense for there to be some automatic compensation,
since otherwise people would simply short between ex-dividend and
the payout date and make some quick cash. And I think we all know
that there's no obvious automatic gains or losses like that in the
market. In any case, it'll be educational. Thanks!
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Chart mystery - Who's smart enough to solve it?
Posted by user32 on 4th of Dec 2010 at 02:59 pm
Ok guys, here's a tough one. On December 1st, I bought shares of CTL pretty much near the close of the day, at a price of $43.88. According to IB and stock charts on that day, that was the close of the day, and the price I bought. HOWEVER, yesterday, I checked out the chart on StockCharts.com (see the link), and it NOW says that the high of that day was around $43.25ish. In fact, it looked like the entire chart (that day and the whole history) has been adjusted down by about $0.60. Clearly the stock on the chart is currently higher than tehe high of Dec 1st, yet I'm showing a loss since I bought it at $43.88. Does anyone know what would cause an entire chart to go down by $0.60? It's not a big deal, but I'm very curious what happened. Thanks!
http://stockcharts.com/h-sc/ui?s=CTL&p=D&yr=0&mn=6&dy=0&id=p73461913129&a=216238379
dividend??
Posted by 8899 on 4th of Dec 2010 at 03:03 pm
maybe there was a dividend of $0.60???
only thing i can think of...
Yup, you're right. I should
Posted by user32 on 4th of Dec 2010 at 03:58 pm
Yup, you're right. I should have checked. (Guess that tells you how few dividend stocks I've owned!) So does that mean if I buy the day before the dividend (on Dec 2nd) that I get the financial shaft, since the price automatically goes down by the amount of the dividend, but I bought after the ex-dividend date? (If that's the case, why in the world were so many people buying in the few days before the dividend was paid? That was some pretty big volume!)
i think you get more
Posted by 8899 on 4th of Dec 2010 at 04:07 pm
i think you get more shares...
You mean I get more
Posted by user32 on 5th of Dec 2010 at 12:18 am
You mean I get more shares to compensate if I bought the stock after the ex-dividend date but a bit before the dividend is paid? It would make sense for there to be some automatic compensation, since otherwise people would simply short between ex-dividend and the payout date and make some quick cash. And I think we all know that there's no obvious automatic gains or losses like that in the market. In any case, it'll be educational. Thanks!