Hey homer, yes I think you would have had to have purchased on 2/13 in this case. However as to the statement "It's not the end of the world since we still get the GNBT shares", but the extra shares were offset by the dividend adjustment in the price downwards, so we are no better off. The only possible plus is that those extra GNBT shares should shoot up with an NGIO IPO. But we should be able to benefit from both of those events, so I still want my NGIO shares.
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Disclaimer: Of course, all of this is my opinion and you should not make any investment decisions based on my opinion. I have not received any non-public information.