HI there, I have been investing for a little over a month. Started with the new Wealthsimple Trading app and began purchasing stock. Did some research and bought 125 [email protected] each.. Company went through a reverse stock split and the shares went up to 10$ as they also got a recent FDA approval. My account on wealthsimple reflected I was getting a 9300$ cash payout, my shares were frozen and I was unable to trade them for about a week. It was finally adjusted on Friday evening. My 125 shares became fractional shares (8.333 of them) and went to market value. Also, now the cash payout is gone from my account, not in my trade account or anywhere to be found. I am a new investor, and am having trouble deciphering what I am entitled to. Stock Code ------ ADXS Was a company called Advaxis Inc. Can anyone help? From what i've read they cashed out shareholders at a rate of 10:1 minimum. Wealthsimple does not provide phone support and only respond to email, of which they reply to in 4 business days...... needless to say they have been frustrating to deal with. Would love some actual clarification lol all advice is appreciated. Josh
HI there, I have been investing for a little over a month. Started with the new Wealthsimple Trading app and began purchasing stock. Did some research and bought 125 [email protected] each.. Company went through a reverse stock split and the shares went up to 10$ as they also got a recent FDA approval. My account on wealthsimple reflected I was getting a 9300$ cash payout, my shares were frozen and I was unable to trade them for about a week. It was finally adjusted on Friday evening. My 125 shares became fractional shares (8.333 of them) and went to market value. Also, now the cash payout is gone from my account, not in my trade account or anywhere to be found. I am a new investor, and am having trouble deciphering what I am entitled to. Stock Code ------ ADXS Was a company called Advaxis Inc. Can anyone help? From what i've read they cashed out shareholders at a rate of 10:1 minimum. Wealthsimple does not provide phone support and only respond to email, of which they reply to in 4 business days...... needless to say they have been frustrating to deal with. Would love some actual clarification lol all advice is appreciated. Josh
HI there, I have been investing for a little over a month. Started with the new Wealthsimple Trading app and began purchasing stock. Did some research and bought 125 [email protected] each.. Company went through a reverse stock split and the shares went up to 10$ as they also got a recent FDA approval. My account on wealthsimple reflected I was getting a 9300$ cash payout, my shares were frozen and I was unable to trade them for about a week. It was finally adjusted on Friday evening. My 125 shares became fractional shares (8.333 of them) and went to market value. Also, now the cash payout is gone from my account, not in my trade account or anywhere to be found. I am a new investor, and am having trouble deciphering what I am entitled to. Stock Code ------ ADXS Was a company called Advaxis Inc. Can anyone help? From what i've read they cashed out shareholders at a rate of 10:1 minimum. Wealthsimple does not provide phone support and only respond to email, of which they reply to in 4 business days...... needless to say they have been frustrating to deal with. Would love some actual clarification lol all advice is appreciated. Josh
Maybe you interpreted something wrong, like maybe you have $9300 buying power. Because I don't see you getting $9300 for (formerly) 125 shares of ADXS. Not sure how Wealthsimple works, but I'm sorry your shares were frozen. They pre-announced that they were doing a reverse split, somewhere between 10:1 up to 25:1 (like you read, 10:1 minimum). They ended up doing 15:1, which is why your 125 shares turned into 8.333. What this also means, is the shares you bought at $0.4776, now you actually bought them at 15 x 0.4776 = $7.1640. This keeps everything fair, since you have 1/15 as many shares, the price is 15 times higher. Keep this in mind, when you see that now ADXS is $3.95 per share. It is almost 50% lower than when you bought it.
Advaxis is the next biotechnology company poised for a significant stock increase during the next 6 months. Advaxis stock slid from $24 to .55 cents over the past year as a result of products not meeting clinical expectations. That said their focused remains consistent on the development and commercialization of proprietary Lm-based antigen delivery products. These immunotherapies are based on a platform technology that utilizes live attenuated Listeria monocytogenes (Lm) bioengineered to secrete antigen/adjuvant fusion proteins. Advaxis pipeline is healthy and they are about to release a few FDA approved products into the market that will create a significant uplift on performance. Investors are expecting Advaxis to be at or near $24 again by year end!
