NVIV
I'm buying 1 share of $NVIV by market close on Apr 26, 2022. 1:25 reverse split rounding up fractional shares overnight.
***DO NOT BUY WITH TRADESTATION!*** They are charging fees now, read on for details.
Sources + brokers, see https://www.reversesplitarbitrage.com/splits
There was a smaller reverse split last week, $UK, and TradeStation charged everyone who bought a single share $20 to process the split AND set accounts to liquidate only. The only way to unfreeze your account was to promise not to buy a single share of a stock prior to its split.
They've always listed a $20 reverse split fee on their site (they call it a mandatory corporate action fee) but they never charged it before. The rule about buying single shares is not on their site but was communicated verbally, and they are quite serious.
As I’ve said before, rounding up fractional shares is a nice thing brokers do for us, and they certainly don’t have to. It was a good run with them, but I am no longer using TradeStation, and will close my account as soon as I can liquidate.
Twitter convo:
