Dear clients,
We inform you about the upcoming changes in the parameters of the #AMWL trading instrument due to the forthcoming reverse split of Amwell shares.
Amwell is planning a 1-for-20 stock consolidation, a strategic move to comply with the New York Stock Exchange (NYSE). The stock consolidation, effective at the close of the trading session on July 10, 2024, is intended to increase Amwell's stock price above the minimum average closing price of $1 set by the NYSE.
In this regard, the #AMWL share price at the time of the reverse split will be increased in proportion to the consolidation by 20 times.
If you have open positions in #AMWL, please keep in mind that:
- The volume of open positions at the moment of reverse split will be reduced proportionally to the consolidation of shares by 20 times.
- The entry price for open positions will be increased at the moment of reverse split proportionally to consolidation of shares by 20 times.
- Stop Loss / Take Profit orders for open positions will be removed at the time of the reverse split.
- All pending orders (Buy Limit, Sell Limit, Buy Stop, Sell Stop, Buy Stop Limit, and Sell Stop Limit) will be removed at the time of the reverse split.
- Current open positions can be closed as usual without any additional restrictions.
Please note that if you have an open position on #AMWL with a volume of less than 20 lots, the volume will be insufficient for consolidation during the reverse split. Therefore, your position will be closed at the last closing price of the trading session before the reverse split.
Updated parameters for #AMWL shares will become effective at the market open on July 11, 2024.
Please take this information into consideration when making trading decisions and readjust your Expert Advisors if necessary.
If you have any questions, please contact LiteFinance's client support via LiveChat.
Yours faithfully,
LiteFinance team
