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captpackratI logged into my brokerage account this morning, and found a stock I didn't recognize in my portfolio, 7 shares of Citadel Broadcasting (CDL). I immediately thought WTFHAX! I quickly hopped over to the account history page to see when this happened, and quickly learned it wasn't a hacker. Apparently it's the result of Walt Disney selling ABC Radio to Citadel. Disney shareholders received 0.0768 shares of Citadel for every share of Walt Disney Company.
CDL is already down $2.13 a share, 25.76%. Gee, thanks, guys. Edit: CDL was also responsible for the mysterious $17.22 dividend payout I'd received that morning. That explains the massive drop in share price.
CDL is already down $2.13 a share, 25.76%. Gee, thanks, guys. Edit: CDL was also responsible for the mysterious $17.22 dividend payout I'd received that morning. That explains the massive drop in share price.
