分股合股由谁提出?# Stock
c*n
1 楼
哪位能解释一下股票的分股合股一般是由谁建议而后又由谁决定的吗?比方说几年前的
AIG几股合一股,百度的一股分成十股,是由华尔街的人提出的还是公司方首先提出的?
AIG几股合一股,百度的一股分成十股,是由华尔街的人提出的还是公司方首先提出的?
a*n
2 楼
都是公司决定的吧
AIG那个是因为exchange有规定，不能老是低于1块钱一股
那就合并一下
【在 c******n 的大作中提到】
: 哪位能解释一下股票的分股合股一般是由谁建议而后又由谁决定的吗?比方说几年前的
: AIG几股合一股,百度的一股分成十股,是由华尔街的人提出的还是公司方首先提出的?
AIG那个是因为exchange有规定，不能老是低于1块钱一股
那就合并一下
【在 c******n 的大作中提到】
: 哪位能解释一下股票的分股合股一般是由谁建议而后又由谁决定的吗?比方说几年前的
: AIG几股合一股,百度的一股分成十股,是由华尔街的人提出的还是公司方首先提出的?
c*n
3 楼
谢谢回复.能再解释一下公司为什么要求分股或合股吗?当年的百度$1000多一个看起来
是有点吓人,但一年前的EDU的股票价格并不怎么高也是一分为四.好象这些股票的分拆
预示顶部的到来.
是有点吓人,但一年前的EDU的股票价格并不怎么高也是一分为四.好象这些股票的分拆
预示顶部的到来.
m*7
4 楼
公司提出，股东大会投票决定。
edu 的确不高，但是和其他的中国培训领域的公司比较就是很高了。和阿波罗比也
很高。
合股的意义有三点
1.太低容易被要求退市。
2.有的基金对每股价格有下限要求。
3.有的broker 按股数收取交易费，合股降低交易成本。
edu 的确不高，但是和其他的中国培训领域的公司比较就是很高了。和阿波罗比也
很高。
合股的意义有三点
1.太低容易被要求退市。
2.有的基金对每股价格有下限要求。
3.有的broker 按股数收取交易费，合股降低交易成本。
w*n
5 楼
你的观察是对的。过度的分拆，比如 3 for 1, 4 for 1, 或是短期内多次2 for 1, 都
预示股票即将到顶（O'Neil 的书里有很多这样的例子）。一方面是短期内股票的供需
平衡被打破，另一方面的原因是公司管理层注意力过多放在股票上了，头脑发热。
【在 c******n 的大作中提到】
: 谢谢回复.能再解释一下公司为什么要求分股或合股吗?当年的百度$1000多一个看起来
: 是有点吓人,但一年前的EDU的股票价格并不怎么高也是一分为四.好象这些股票的分拆
: 预示顶部的到来.
预示股票即将到顶（O'Neil 的书里有很多这样的例子）。一方面是短期内股票的供需
平衡被打破，另一方面的原因是公司管理层注意力过多放在股票上了，头脑发热。
【在 c******n 的大作中提到】
: 谢谢回复.能再解释一下公司为什么要求分股或合股吗?当年的百度$1000多一个看起来
: 是有点吓人,但一年前的EDU的股票价格并不怎么高也是一分为四.好象这些股票的分拆
: 预示顶部的到来.
c*n
6 楼
谢谢各位的回答.基金对股价下限的要求一般是$10吗?那那些股票合股成$10以上的则意
味着有可能进入更多的基金,有助于股票的稳定吧.股票价格和持有的稳定应该有助于公
司的财务运作.
那些进入道琼斯,Nasdaq,S&P500的股票又对公司方有何利弊呢?
味着有可能进入更多的基金,有助于股票的稳定吧.股票价格和持有的稳定应该有助于公
司的财务运作.
那些进入道琼斯,Nasdaq,S&P500的股票又对公司方有何利弊呢?
m*7
7 楼
能进入index 对公司肯定是大利好。
FB由于市值很大，马上就要进入nasdaq的index了。
一旦进入index，很多指数基金就必须购买FB了。对FB是利好，虽然大家都不看好FB
另外：我对fb的个人意见
FB根本就是个降低社会生产效率的企业，和goog是不可同日而语的。
连奥巴马都不允许小孩有FB账户。
FB由于市值很大，马上就要进入nasdaq的index了。
一旦进入index，很多指数基金就必须购买FB了。对FB是利好，虽然大家都不看好FB
另外：我对fb的个人意见
FB根本就是个降低社会生产效率的企业，和goog是不可同日而语的。
连奥巴马都不允许小孩有FB账户。
m*7
8 楼
我对分股的危害却不以为然。
微软，KO, 沃尔玛，都分股多次，好像对业绩也没有多大影响。
微软，KO, 沃尔玛，都分股多次，好像对业绩也没有多大影响。
c*n
9 楼
前一阵子有人说FB会跌到个位数,好象与基金的最低股价要求不符,也许顶多就跌到接近
个位数.
分股的目的是不是还有拉散户的意图?毕竟$1000一股的没多少散户敢参与.
相应合股的目的就是想找大东家?
个位数.
分股的目的是不是还有拉散户的意图?毕竟$1000一股的没多少散户敢参与.
相应合股的目的就是想找大东家?
m*7
10 楼
一旦进入index， 指数基金就是自动配置。
b*p
11 楼
那样的话,FB真是坑爹啊!
【在 m********7 的大作中提到】
: 能进入index 对公司肯定是大利好。
: FB由于市值很大，马上就要进入nasdaq的index了。
: 一旦进入index，很多指数基金就必须购买FB了。对FB是利好，虽然大家都不看好FB
: 另外：我对fb的个人意见
: FB根本就是个降低社会生产效率的企业，和goog是不可同日而语的。
: 连奥巴马都不允许小孩有FB账户。
【在 m********7 的大作中提到】
: 能进入index 对公司肯定是大利好。
: FB由于市值很大，马上就要进入nasdaq的index了。
: 一旦进入index，很多指数基金就必须购买FB了。对FB是利好，虽然大家都不看好FB
: 另外：我对fb的个人意见
: FB根本就是个降低社会生产效率的企业，和goog是不可同日而语的。
: 连奥巴马都不允许小孩有FB账户。
m*7
12 楼
Facebook 今年12月就会加入 Nasdaq-100 index
http://online.wsj.com/article/SB1000087239639044423310457759557
Investors hoping that index funds will give Facebook Inc.'s FB +0.13%
battered shares
a lift could be in for a long wait.
When the Nasdaq Stock Market decided in April to shorten the "seasoning"
period for any stock to three months from as little as a year, it made the
social-networking company, which went public in May, eligible for inclusion
in its Nasdaq-100 index as soon as Sept. 1.
Changes to indexes, known as "rebalancing," are closely followed by traders,
as additions mean that mutual funds and exchange-traded funds that
explicitly replicate them are forced to buy the stock, regardless of its
performance. Many funds that are benchmarked against an index buy as well.
But any uplift from joining the Nasdaq-100, which includes Internet and
technology giants such as Apple Inc., AAPL -3.60% Google Inc.
GOOG -1.90% and Baidu Inc.,
BIDU -0.71% is
likely to be months away. Although Facebook's stock-market value, at $52
billion, should easily qualify it as one of the 100 largest Nasdaq-listed
companies, the index is only reranked each December.
Stock futures inched mostly lower, following a sharp rally in the previous
session, ahead of consumer-sentiment data. Meanwhile, Facebook shares
continue to tumble. Chris Dieterich has details on The News Hub.
The carnage in Facebook shares has prompted one major question: Is it
finally time to buy? Steven Russolillo has the answer on Markets Hub. Photo:
Getty.
Once-hot social media stocks such as Facebook, Zynga and Groupon have gotten
some painful lessons on the effects of supply and demand. Ben Pimentel
joins digits to explain how new lows for Facebook and Groupon could may hurt
other Web firms contemplating an initial public offering. Photo: Getty
Images.
Surprise additions do happen—but it is only when a company leaves the index
because it falls below listings requirements, seeks bankruptcy protection
or is acquired, that unscheduled changes are made.
"[December] looks like the most likely time for Facebook to go into the
index," a program trader at a large brokerage firm said.
Nasdaq's decision to change its index rules was a major factor in Facebook's
decision to give its high-profile listing to that exchange rather than the
New York Stock Exchange, a person familiar with the matter said at the time.
A spokesman for Nasdaq OMX Group Inc., NDAQ -1.22% which operates the
Nasdaq Stock Market and the index, declined to comment on index changes. A
Facebook spokeswoman also declined to comment on indexing or its impact on
the stock.
Facebook's History
View Interactive
Facebook may have to wait even longer to be included in the more-widely
followed Standard & Poor's 500-share index. That index provider requires at
least six months of seasoning and retains discretion over additions to the
index, unlike Nasdaq, which bases changes purely on preset numerical
criteria. Google, for example, didn't join the S&P 500 for more than two
years after its stock-market listing, despite having a market value that
would otherwise have qualified it.
"It's not going to be a big deal when Nasdaq adds [Facebook]," said Vijay
Singal, a finance professor at Virginia Tech in Blacksburg, Va., who has
studied the effects of indexing. "The biggest impact is when S&P 500 adds it
."
Inclusion in other indexes hasn't had a lasting impact on Facebook's stock,
which has tumbled since its initial public offering. It closed Friday at $19
.05, down 4.1% on the day and nearly half its $38 IPO price—despite being
added to broad U.S. stock-market indexes from Russell Investments and MSCI
Inc.
Investors are focused on slowing revenue growth as well as the company's
ability to monetize mobile-phone users. In addition, so-called lockups that
prevented some employees and early investors from selling shares have begun
to expire, adding to the 421 million already in circulation.
Enlarge Image
Getty Images
Facebook shares were hit this week by the expiration of lockup periods.
"There are so many other things going on with Facebook right now," said Amy
Lubas, technology strategist at Ned Davis Research Inc. "That is trumping
any potential positive index benefits."
History suggests that the impact of being added to the S&P 500 is
considerably larger, on average, than that for the Nasdaq-100. Companies
whose shares were added to the S&P from 2000 to 2010 on average saw a 3.6%
increase in the stock price from the announcement of inclusion to the actual
addition, according to data compiled by Barclays. The same increase for
Nasdaq-100 membership from 2001 to 2012 was about 1.2%.
One reason for the gap is that more money is invested across 89 mutual funds
and ETFs that directly replicate the S&P 500's moves—$513 billion,
according to fund tracker Morningstar Inc. By contrast, the Nasdaq-100 is
followed by just $35.5 billion in assets across 11 funds and ETFs, the
largest by far of which is the Powershares QQQ Trust QQQ -2.39% ETF, known
as "the Qs".
For Facebook, the impact of joining any index may be more muted than is
typical. In particular, the end of lockups could add two billion shares over
the next year will offset some of the index-related buying pressure, said
Stuart Thomas, principal at Precidian Investments, which develops ETFs, or
funds that can be traded intraday, like a stock. "All the liquidity needed
by the indexers will already be there," he said.
Additionally, Facebook's poor stock-market performance could lead some
funds that follow the index, but don't track it precisely, to purchase less
of the stock than they might otherwise have.
"The Nasdaq-100 is not a lot of stocks. If Facebook is not up to snuff for
some reason, people will know that more easily than they would with a bigger
index," said Audrey Costabile, vice president in the applied research group
at rival index group MSCI.
Facebook's stock has seen brief rises following addition to other indexes,
but the gains haven't been sustained.
Russell announced on June 11 that Facebook would be added to the Russell
3000 index, and it was added after markets closed on June 22. Facebook
enjoyed its best two weeks of price gains during that time, rising 22% to $
33.05. That period also corresponded to the run-up before analysts published
their first research on the stock. But Facebook has yet to return to its
June 22 intraday high of $33.45, much less its first-day high of $45.
http://online.wsj.com/article/SB1000087239639044423310457759557
Investors hoping that index funds will give Facebook Inc.'s FB +0.13%
battered shares
a lift could be in for a long wait.
When the Nasdaq Stock Market decided in April to shorten the "seasoning"
period for any stock to three months from as little as a year, it made the
social-networking company, which went public in May, eligible for inclusion
in its Nasdaq-100 index as soon as Sept. 1.
Changes to indexes, known as "rebalancing," are closely followed by traders,
as additions mean that mutual funds and exchange-traded funds that
explicitly replicate them are forced to buy the stock, regardless of its
performance. Many funds that are benchmarked against an index buy as well.
But any uplift from joining the Nasdaq-100, which includes Internet and
technology giants such as Apple Inc., AAPL -3.60% Google Inc.
GOOG -1.90% and Baidu Inc.,
BIDU -0.71% is
likely to be months away. Although Facebook's stock-market value, at $52
billion, should easily qualify it as one of the 100 largest Nasdaq-listed
companies, the index is only reranked each December.
Stock futures inched mostly lower, following a sharp rally in the previous
session, ahead of consumer-sentiment data. Meanwhile, Facebook shares
continue to tumble. Chris Dieterich has details on The News Hub.
The carnage in Facebook shares has prompted one major question: Is it
finally time to buy? Steven Russolillo has the answer on Markets Hub. Photo:
Getty.
Once-hot social media stocks such as Facebook, Zynga and Groupon have gotten
some painful lessons on the effects of supply and demand. Ben Pimentel
joins digits to explain how new lows for Facebook and Groupon could may hurt
other Web firms contemplating an initial public offering. Photo: Getty
Images.
Surprise additions do happen—but it is only when a company leaves the index
because it falls below listings requirements, seeks bankruptcy protection
or is acquired, that unscheduled changes are made.
"[December] looks like the most likely time for Facebook to go into the
index," a program trader at a large brokerage firm said.
Nasdaq's decision to change its index rules was a major factor in Facebook's
decision to give its high-profile listing to that exchange rather than the
New York Stock Exchange, a person familiar with the matter said at the time.
A spokesman for Nasdaq OMX Group Inc., NDAQ -1.22% which operates the
Nasdaq Stock Market and the index, declined to comment on index changes. A
Facebook spokeswoman also declined to comment on indexing or its impact on
the stock.
Facebook's History
View Interactive
Facebook may have to wait even longer to be included in the more-widely
followed Standard & Poor's 500-share index. That index provider requires at
least six months of seasoning and retains discretion over additions to the
index, unlike Nasdaq, which bases changes purely on preset numerical
criteria. Google, for example, didn't join the S&P 500 for more than two
years after its stock-market listing, despite having a market value that
would otherwise have qualified it.
"It's not going to be a big deal when Nasdaq adds [Facebook]," said Vijay
Singal, a finance professor at Virginia Tech in Blacksburg, Va., who has
studied the effects of indexing. "The biggest impact is when S&P 500 adds it
."
Inclusion in other indexes hasn't had a lasting impact on Facebook's stock,
which has tumbled since its initial public offering. It closed Friday at $19
.05, down 4.1% on the day and nearly half its $38 IPO price—despite being
added to broad U.S. stock-market indexes from Russell Investments and MSCI
Inc.
Investors are focused on slowing revenue growth as well as the company's
ability to monetize mobile-phone users. In addition, so-called lockups that
prevented some employees and early investors from selling shares have begun
to expire, adding to the 421 million already in circulation.
Enlarge Image
Getty Images
Facebook shares were hit this week by the expiration of lockup periods.
"There are so many other things going on with Facebook right now," said Amy
Lubas, technology strategist at Ned Davis Research Inc. "That is trumping
any potential positive index benefits."
History suggests that the impact of being added to the S&P 500 is
considerably larger, on average, than that for the Nasdaq-100. Companies
whose shares were added to the S&P from 2000 to 2010 on average saw a 3.6%
increase in the stock price from the announcement of inclusion to the actual
addition, according to data compiled by Barclays. The same increase for
Nasdaq-100 membership from 2001 to 2012 was about 1.2%.
One reason for the gap is that more money is invested across 89 mutual funds
and ETFs that directly replicate the S&P 500's moves—$513 billion,
according to fund tracker Morningstar Inc. By contrast, the Nasdaq-100 is
followed by just $35.5 billion in assets across 11 funds and ETFs, the
largest by far of which is the Powershares QQQ Trust QQQ -2.39% ETF, known
as "the Qs".
For Facebook, the impact of joining any index may be more muted than is
typical. In particular, the end of lockups could add two billion shares over
the next year will offset some of the index-related buying pressure, said
Stuart Thomas, principal at Precidian Investments, which develops ETFs, or
funds that can be traded intraday, like a stock. "All the liquidity needed
by the indexers will already be there," he said.
Additionally, Facebook's poor stock-market performance could lead some
funds that follow the index, but don't track it precisely, to purchase less
of the stock than they might otherwise have.
"The Nasdaq-100 is not a lot of stocks. If Facebook is not up to snuff for
some reason, people will know that more easily than they would with a bigger
index," said Audrey Costabile, vice president in the applied research group
at rival index group MSCI.
Facebook's stock has seen brief rises following addition to other indexes,
but the gains haven't been sustained.
Russell announced on June 11 that Facebook would be added to the Russell
3000 index, and it was added after markets closed on June 22. Facebook
enjoyed its best two weeks of price gains during that time, rising 22% to $
33.05. That period also corresponded to the run-up before analysts published
their first research on the stock. But Facebook has yet to return to its
June 22 intraday high of $33.45, much less its first-day high of $45.
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