Tesla Stock split

andyb2

I have my money in Tesla shares on Hargreves Lansdown and there has been the stock split and my investment its showing as the price going down by 70% as well as the value of my investment. Obviously, the price should go down but not the value of the investment. When will I get the new shares into my account? Does anyone know, or has had the same problem. I'm worried its just me. 
Thank,s 
Andy 

Thrugelmir

The number of shares you hold will correspondingly increase. 

andyb2

Thrugelmir said:

The number of shares you hold will correspondingly increase. 

But when will I receive these shares? 

Username999

You should have the same message as me in your HL account...

"....It’s expected that the new shares will be issued by 3 September, but this can’t be guaranteed. The new shares will be credited to your portfolio once we’ve been issued with them. Please note that from market open on 31 August, until the shares are credited to you, your holding will show a value of only 20% of its real worth. This will correct itself as soon as the new shares are added to your portfolio."

Username999

Just noticed that HL have Tesla as going Ex-Dividend today!
They're good, HL, but not perfect.

AnotherJoe

Username999 said:

Just noticed that HL have Tesla as going Ex-Dividend today!
They're good, HL, but not perfect.

TBF, i believe its classified as a stock dividend by the company, so XD is accurate. It says the same against my Apple holding.

There's a whole bunch of people on Twitter saying they didnt get the secure message about the split (I did).

It is screwed up behaviour though, if I wanted to sell all my Tesla today (or the next 2 or 3 days)  i couldn't because I've only got 1/5 the shares in my account. Same for Apple, also missing shares (and similar message about the 3rd).

BTW, Tesla now, in AH trading, is above $500 each, eg $2500+ in old money. There's got to be a pullback sometime, OTOH theres at least two events coming up to keep it running. Although if S&P doesnt happen soon,  i can see a drop because of that)

bowlhead99

AnotherJoe said

It is screwed up behaviour though, if I wanted to sell all my Tesla today (or the next 2 or 3 days)  i couldn't because I've only got 1/5 the shares in my account. Same for Apple, also missing shares (and similar message about the 3rd).

BTW, Tesla now, in AH trading, is above $500 each, eg $2500+ in old money. 

I suppose retail punters being unable to sell at the moment, while being able to buy, may be the sort of thing that contributes to a split-day price spike. However probably in the US many platforms will allow trading given the brokerages know the seller is good for the shares really. If HL are only providing access to the stock via CDIs rather than the underlying (as is their usual practice to offer a simple service rather than advanced brokerage features and lots of foreign markets) then that may impact what flexibility you have. 

Still I guess you could at least sell a fifth of your shares if you are worried about making too much money

kinger101

Here's the crazy thing.  Tesla share price closed at 430.25 on 1 Jan 2020.  Below their current post 5:1 split price.

AnotherJoe

bowlhead99 said:

AnotherJoe said

It is screwed up behaviour though, if I wanted to sell all my Tesla today (or the next 2 or 3 days)  i couldn't because I've only got 1/5 the shares in my account. Same for Apple, also missing shares (and similar message about the 3rd).

BTW, Tesla now, in AH trading, is above $500 each, eg $2500+ in old money. 

I suppose retail punters being unable to sell at the moment, while being able to buy, may be the sort of thing that contributes to a split-day price spike. However probably in the US many platforms will allow trading given the brokerages know the seller is good for the shares really. If HL are only providing access to the stock via CDIs rather than the underlying (as is their usual practice to offer a simple service rather than advanced brokerage features and lots of foreign markets) then that may impact what flexibility you have. 

Still I guess you could at least sell a fifth of your shares if you are worried about making too much money

Well I've got 4 = 20 I am planning to sell, I bought those for a quick buck but now am thinking i might hold until after battery day / S& P inclusion (if that happens it will likely be next week now) .  So thats end Sep. And my OCD would kick in if i had to sell 16 out of my non daytrading number and wait a couple days for them to come back in ! What if the ship that HL has carrying the certificates across the Atlantic sinks ? Or soemone makes a mistake with their quill pen as they update my ledger?

And who knows, maybe the fabled short squeeze in coming. Last time I checked there were $20Bn worth of shares shorted.  Minus your 3 now

ConsumerRightsMan

Hello andyb2,
apparently according to Tesla, the split took place according to the value of your holding as at the close of play on the 21st August 2020. The additional shares to be distributed as at the close of play on the 28th August 2020. The trading platform used by brokers is called "CREST", an electronic form of accurate and speedy stock trading. It seems strange that this system would only implement one side of a trade or contract.????? 

ConsumerRightsMan

Here's a quote from Motley Fool website concerning the Tesla stock split,
"When will I see the new shares?

Different brokerage companies have their own procedures for handling their accounting records for stock splits. You therefore shouldn't expect to see the new stock in your account right after the market closes on Friday. However, it's reasonable to expect that by Monday, Aug. 31, you'll be credited with the correct number of post-split shares."