The official knife has been thrust into the heart of PacWest Equities Inc. (PWEI) today after news that they filed with FINRA for a 3-for-1 forward split with a record date of October 18, 2012. Typo its not, the news is bound to send PWEI stock traders scrambling to figure out if they are due to become bagholders of a “D” attached penny stock they can’t sell for 20 trading sessions. The record date of October 18, last week Thursday, may lead to another update due out later today of the effective date.
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PWEI Stock Chart
Market Cap: 14.46M
Last: 0.481, up 0.071 (17.32%)
Volume: 3,154,933
Dollar Volume: $1,465,266
High: 0.508
Low: 0.41
Trades: 589
Average Trade Size: 5,356
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Read the one sentence announcement from PacWest Equities here.
About PWEI Stock
Bottom Line: Keep a close eye on news coming out of the effective date so that exiting the penny stock can be scheduled. Drinking the kool aid thinking 3 shares of PWEI stock is better than one is the same mistake bagholders of Independence Energy (IDNG) experienced when they effected their forward stock split.
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