Dear TeleTrade clients,
General Electric (NYSE: GE) has announced a 1-for-8 reverse stock split. Therefore, following the split, every eight shares will be converted to one with a corresponding increase of price per share by eight times.
The shares will resume trading on a split-adjusted basis at the start of the trading session on Monday, August 2nd, 2021.
To this end, on July 30, 2021, at the end of the trading session, all open positions on GE share CFDs will be switched to "Close Only" mode.
Please close all open positions on that instrument and delete pending orders before the end of the trading session on said date.
All remaining positions on GE will be closed automatically and pending orders will be deleted.
Kind regards,
TeleTrade