Oh yeah, that is an interesting question. What happens to DWT when oil goes to zero? How do you triple that?
1-for-8 Reverse Share Split: April 28, 2020 will receive one post-split share of USO for every eight pre-split shares of USO they hold. Immediately after the reverse share split is effective, USO's post-split shares will have an NAV that is eight times higher than that of pre-split shares. The reverse share split will reduce the number of USO's shares outstanding and will result in a proportionate increase in the net asset value per share ("NAV") of USO. As a result of the reverse share split, USO shareholders on April 28, 2020 will receive one post-split share of USO for every eight pre-split shares of USO they hold. Immediately after the reverse share split is effective, USO's post-split shares will have an NAV that is eight times higher than that of pre-split shares. The reverse share split will affect all of USO's shareholders. The reverse share split will not affect any shareholder's percentage interest in USO, except to the extent that the reverse share split results in a shareholder receiving cash in the transaction. The NYSE Arca does not permit the trading of fractional shares. As described below, shareholders otherwise entitled to receive fractional shares as a result of the reverse share split will thus receive cash in lieu of such fractional shares.
I thought USO was going to zero pretty much but they pulled a bunny out of their ASS. The split was pretty much a stimulus package for USO lol..
