timmahh

Ok.. so i'm a complete newb at this and just did this one day when I was bored.. I opened an E-Trade account and bought 7 shares of AIG stock for like $1.54 each. I had about $30 in cash sitting in the acct as well [not invested].

That was back in November or December or something.. today my co worker tells me wow AIG is worth $19! I was like hot damn! I wonder how much I have.. So I go and look and I have $6.


WTF

In reading, apparently AIG said lets fu** everyone over and reverse split the shares 20 - 1. So I now own .35 shares of AIG stock. Whatever. Assholes.

So where's the rest of my money? Apparently there's some 20 fee for AIG reorganizing. Uhm.. I didn't tell them to reorg.. so why am I getting charged $20 for something? Wtf?

Can a seasoned investor please explain to me what the hell happened??


Thanks

doopstr

you bought 7 shares @1.54

Sorry, I think you are screwed. Also the reverse split has been in the cards for a long time. Buy some Citibank next and watch it happen there too.

SupaRookie

the commission is that much if not more.

NSXNEXT

iTrader: (2)

Did you even bother to read about the company stock you're buying?

timmahh

It was cheap!

Now when I login I have no shares at all

timmahh

My .35 share was liquidated over the weekend at a yet to be determined amount

NSXNEXT

iTrader: (2)

Should have taken your advice under your avatar.

timmahh

Indeed!

Whats your #?

NSXNEXT

iTrader: (2)

<<<<< Works in Financial Services but does not give financial advice.

timmahh

You could.. but just turn your forum sig into a giant disclaimer!

Silver™

You are still doing better than most