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EnigmaDude (88.82)

What's up with IDT?

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October 31, 2011 – Comments (7) | RELATED TICKERS: IDT

It shows up as my biggest loser for the day, but the stock is up about $0.04 last time I checked.  I can't find anything that says they did a stock split.  Why does CAPS think the stock is losing when the S&P is down and the stock is up on the day?

7 Comments – Post Your Own

#1) On October 31, 2011 at 1:14 PM, EnigmaDude (88.82) wrote:

Naturally, just after I posted this I think I found the answer to my question.  Looks like the spin-off of Genie Energy (which begins trading today as GNE) resulted in a re-allocation of shares which effectively dropped the share price of IDT. I'm guessing that my start price will be adjusted once CAPS catches up.

I think that was a smart move by IDT management and the stock is looking even more attractive now.

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#2) On October 31, 2011 at 1:16 PM, Momentum21 (78.83) wrote:

Enigma - there is a spinoff taking place. MF is going to have to do the math on that one. In real life you would be issued shares of a new ticker...GNE I believe...they are spinning out the Energy Division.

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#3) On October 31, 2011 at 1:25 PM, EnigmaDude (88.82) wrote:

 Momentum21 - thanks. That confirms my understanding of what just happened.  Do you think it was a good move for IDT shareholders?

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#4) On October 31, 2011 at 1:47 PM, Momentum21 (78.83) wrote:

#3 - I started to answer that but I really have no idea. : ) I like the sounds of GNE better on the surface... 

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#5) On October 31, 2011 at 2:17 PM, portefeuille (99.64) wrote:

http://www.genie.com/

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#6) On November 01, 2011 at 11:24 AM, EnigmaDude (88.82) wrote:

Can anyone at MF chime in on this?  Will my start price for IDT be adjusted or do I have to take a hit on my score?

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#7) On November 01, 2011 at 10:02 PM, truthisntstupid (92.94) wrote:

Same here with ITT.  My guess is our start price gets adjusted. 

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