1:50 reverse split tonight, rounding up fractional shares
I'm buying 1 share of $TXMD by market close on May 6, 2022. It trades on Nasdaq. 1:50 reverse split rounding up fractional shares overnight. For participating brokers and sources, see: https://www.reversesplitarbitrage.com/splits
They trade around $0.16, so a 1:50 split means a potential $8 profit if prices hold.
Works on all brokers, but reminder that TradeStation is not cool with buying stocks that are about to split. They will charge you $20 and possibly lock your account. I discussed TradeStation here.
Fractional shares resulting from the Reverse Stock Split will be rounded up to the nearest whole share, and all shares of Common Stock (including fractions thereof) issuable upon the Reverse Stock Split to a given stockholder will be aggregated for the purpose of determining whether the Reverse Stock Split would result in the issuance of a fractional share.