- This event has passed.
ACOR – Special Meeting of Stockholders
November 4 @ 8:00 am - 5:00 pm
This is a vote on a Reverse Split. However, there was going to a be a vote on increasing the share count (ie a Shelf offering), but that was withdrawn according to the attached article.
While a Reverse Split is generally considered a bad thing, once the stock has preformed the Reverse Split, a lot of people watch for it to fall so they can attempt to catch a run on the float, which will have decreased dramatically. If a Reverse Split is approved, anticipate a follow up PR with details about when it will take place, and what the ratio will be. Then, monitor the price action in the week leading up to the Reverse Split, and in the week after. If and when the stock falls beyond what one might consider reasonable during one of those weeks, many traders will attempt to bottomfish and hope for a squeeze. Traders will also want to monitor the short float, if it suddenly increases that would increase the probability of a short squeeze eventually.
These are not easy plays to time, even for seasoned pros. But it is always worth watching the price action during the runup phase, the event phase, and the afterglow phase, to begin to get a sense of the kinds of patterns you can see.
Recent PR: https://finance.yahoo.com/news/acorda-therapeutics-withdraws-proposal-increase-103000860.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAGwjiHGvMSwWyJ03cgk5F8XukX2Cc3eghwimTwIt_qripCpTPCcdEwJFx1nHox1wJUlqoLage1iX_jI7qsBVrHeIIgDnJ48ERwFvn7LlkJteSjep2tpaPxMJoxRd10N59N61VI8mZ0KwGON60byuG9kVZYbkA7mATw36Ab02CG29