Independence Energy’s IDNG Stock Split Effects Tomorrow

The penny stock of Independence Energy Corp. (IDNG) has been a phenomenal performer since we first issued a watch alert on the shares in early May. IDNG is currently trading at $4.7, a gain of 124.29% or $2.61 since the alert, and today’s current volume of 1,429,137 is emphasizing that strength in this stock. All of that is about to come to an abrupt end tomorrow after the Company announced today that the 5:1 forward stock split will take effect Friday June 22nd, at 9:30am.

Translation: A lower price and more shares opens the opportunity for higher volatility and bigger price swings.

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IDNG Stock Chart

Market Cap: 114.41M
Shares Outstanding: 24.24M

5 Day Pct Change: 24.21%
10 Day Pct Change: 40.90%
20 Day Pct Change: 61.09%
30 Day Pct Change: 107.93%

According to the press release, Independence Energy received confirmation from FINRA regarding the effective date of its 5:1 forward split of its common shares.

At the market opening on June 22, 2012, Independence Energy’s IDNG stock will begin trading on a post-split adjusted basis under the new CUSIP number 45343Y 205. Independence’s ticker symbol of “IDNG” will remain unchanged as a result of the forward split, although a “D” will be appended (“IDNGD“) for approximately 20 business days to indicate to investors of the recent reorganization.

As the result of the forward stock split, each shareholder is entitled to exchange their existing shares for five times the amount in new post-split shares, payable upon surrender. The Company expects that shareholders holding common shares at registered brokerage firms will have this forward split transaction processed automatically in their accounts over the next few days. Shareholders holding physical certificates representing their shares are NOT required to submit their certificates for exchange to receive full credit for forward split shares. Physical certificate holders may contact the Company’s transfer agent, Holladay Stock Transfer Inc., at (480) 481-3940 to facilitate the exchange of their old certificates for post-split shares should they wish to.

To read the full press release, click here.

Bottom Line: This penny stock has had a great run with virtually no resistance along the way. Don’t let that fool you if you own IDNG because at a price below $1 post-split, a whole new batch of traders will be on this stock like white on rice and cause the chart pattern to be nothing more than a memory. If you were to sell IDNG today and buy back in on Monday, what is the maximum you could lose? If you hold and the shares go “ape-poop”, what is the maximum you could lose?

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