We would love to hear your thoughts about our site and services, please take our survey here.
This appears to me to be simply a restating of ogifs actual position in shares held, that has now reduced as a percentage value of the company (given the new shares issued). Not really anything to be excited about.
Reverse split comparison
1,275,000 units | Day 1 | Day 2 | Day 3
Before split | $0.014 | $0.028 | $0.056
Value | $17,850 | $35,700 | $71,400
--------------------------------------------------------------------
850 units Day 1 | Day 2 | Day 3
After split | $21 | $42 | $84
Value | $17850 | $35700 | $71400
Where are you getting the post consolidation numbers from? The math does not look right and on the release granite share an example that comes out even. the underlying pot size is the same whether there are 2 shares or 2 billion shares.
Most of the drop happened after the UK market closed and by opening time I guess the tsla share price had rebounded a bit. Currently 2 percent up. So 'net' drop from closing time yesterday of about 10 dollars. Not exact as I really cba to look exactly but I accurate enough that I'm not puzzled anymore. Yes I thought the same thing this morning.......
Just keep in mind that the closing time in London is not the end of Tesla trading. The opening price the next day reflects the closing and after hours price in the us. So Tesla was down approx 15% at London close so 3sts was up about 45% at close. But tsla recovered almost all of that so 3sts opened down to reflect that recovery. If you want to understand the movements then watch the after Hours and pre market trading. Then you will see the correlation.
I will just use an extreme example. A 99% drop in one day would be about 300 percent profit so 30k profit from 10k starting. 99 days of 1% drops so 3% compounding 99 times gives about 140k profit off the same 10k start. I used an online interest calculator and of course there are fees to take into account and actually the resulting share price for Tesla would be higher after the 1 percent drops but it is clear there the size of the drops has an impact.
It's not quite so simple as there have been charged taken out of the pot over the period since Tesla was last at 600 (or any reference point) and as this is a daily performance etf then the trajectory to the reference point also matters. A case of compound interest with multiple smaller drops potentially being preferred to one big drop.