RM Investment Bank: important information in view of NVIDIA's stock split on 10 June 2024
Dear Clients and Partners,
On 10 June 2024, NVIDIA Corporation will have its stocks go through a split. A stock split is a corporate action, as a result of which the company increases the number of issued shares by a specific multiplier and reduces the value of each share by the same multiplier.
NVIDIA Corporation will conduct a 10-for-1 stock split (1 share will be split into 10).
How will this affect positions and orders?
If you have open positions in NVIDIA Corporation shares or plan to open such positions, please pay attention to the following changes, which will be effective as of 10 June 2024:
R StocksTrader accounts
The split procedure will take place on 10 June and will be completed prior to the US Stock session's start at 15:00 hours (server time).
During the split procedure, all active pending orders (Buy Limit, Sell Limit, Stop Loss, and Take Profit) in NVDA will be cancelled.
For positions in NVDA opened before the split, the opening price will be divided by 10 on 10 June at 15:00 (server time).
The volume of all open positions in NVDA will be multiplied by 10 on 10 June at 15:00 (server time).
All positions in any of these instruments in the same direction and on the same account will be combined into one new position. This new position will have the opening price and a volume based on an average weighted price of all positions held before the split.
Other platforms real accounts
The split procedure will take place on 10 June and will be completed prior to the US Stock session's start at 15:00 hours (server time).
All pending orders (Buy Limit, Buy Stop, Sell Limit, Sell Stop, Buy Stop Limit, Sell Stop Limit, Stop Loss, and Take Profit) in NVDA will be cancelled before the session opens on 10 June at 16:31 (server time).
For positions in NVDA, the opening price will be divided by 10 at 15:00 (server time).
The volume of each open position in NVDA will be multiplied by 10.
Other platforms demo accounts
All pending orders (Buy Limit, Buy Stop, Sell Limit, Sell Stop, Buy Stop Limit, Sell Stop Limit) in NVDA will be cancelled before the session opens on 10 June at 16:31 (server time).
All open positions in NVDA will be closed on 10 June before the session opens.
Please note that if you are using an Expert Advisor (EA), we suggest that you check with its developers whether its code needs any modifications to ensure the correct interpretation of the price data after the stock split.
The historical charts in your investing terminal will be updated to reflect the new prices of the above-mentioned instruments.
All other aspects of investing conditions shall remain intact. Please take this information into account when planning your investing activity.
Sincerely,
The RM Investment Bank Team