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Video: What is a Stock Split?
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Top Ships is an international owner and operator of tanker vessels focusing on the transportation of crude oil, petroleum products (clean and dirty) and bulk liquid chemicals. Co.'s operating fleet consists of several product/chemical tankers, M/T Nord Valiant, M/T Eco Marina Del Ray, M/T Eco Los Angeles and M/T Eco City of Angels and several Suezmax tankers, the M/T Eco Bel Air, M/T Eco Beverly Hills and M/T Eco West Coast and it also owns certain interest in several product tankers, M/T Eco Yosemite Park and M/T Joshua Park. Co.'s vessels are capable of carrying a variety of oil products including chemical cargos. According to our TOPS split history records, TOP Ships has had 12 splits. | |
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TOP Ships (TOPS) has 12 splits in our TOPS split history database. The first split for TOPS took place on March 20, 2008. This was a 1 for 3 reverse split, meaning for each 3 shares of TOPS owned pre-split, the shareholder now owned 1 share. For example, a 1000 share position pre-split, became a 333.333333333333 share position following the split. TOPS's second split took place on April 21, 2014. This was a 1 for 7 reverse split, meaning for each 7 shares of TOPS owned pre-split, the shareholder now owned 1 share. For example, a 333.333333333333 share position pre-split, became a 47.6190476190476 share position following the split. TOPS's third split took place on February 22, 2016. This was a 1 for 10 reverse split, meaning for each 10 shares of TOPS owned pre-split, the shareholder now owned 1 share. For example, a 47.6190476190476 share position pre-split, became a 4.76190476190476 share position following the split. TOPS's 4th split took place on May 11, 2017. This was a 1 for 20 reverse split, meaning for each 20 shares of TOPS owned pre-split, the shareholder now owned 1 share. For example, a 4.76190476190476 share position pre-split, became a 0.238095238095238 share position following the split. TOPS's 5th split took place on June 23, 2017. This was a 1 for 15 reverse split, meaning for each 15 shares of TOPS owned pre-split, the shareholder now owned 1 share. For example, a 0.238095238095238 share position pre-split, became a 0.0158730158730159 share position following the split. TOPS's 6th split took place on August 03, 2017. This was a 1 for 30 reverse split, meaning for each 30 shares of TOPS owned pre-split, the shareholder now owned 1 share. For example, a 0.0158730158730159 share position pre-split, became a 0.000529100529100529 share position following the split. TOPS's 7th split took place on October 06, 2017. This was a 1 for 2 reverse split, meaning for each 2 shares of TOPS owned pre-split, the shareholder now owned 1 share. For example, a 0.000529100529100529 share position pre-split, became a 0.000264550264550265 share position following the split. TOPS's 8th split took place on March 26, 2018. This was a 1 for 10 reverse split, meaning for each 10 shares of TOPS owned pre-split, the shareholder now owned 1 share. For example, a 0.000264550264550265 share position pre-split, became a 2.64550264550265e-05 share position following the split. TOPS's 9th split took place on August 22, 2019. This was a 1 for 20 reverse split, meaning for each 20 shares of TOPS owned pre-split, the shareholder now owned 1 share. For example, a 2.64550264550265e-05 share position pre-split, became a 1.32275132275132e-06 share position following the split. TOPS's 10th split took place on August 10, 2020. This was a 1 for 25 reverse split, meaning for each 25 shares of TOPS owned pre-split, the shareholder now owned 1 share. For example, a 1.32275132275132e-06 share position pre-split, became a 5.29100529100529e-08 share position following the split. TOPS's 11th split took place on September 23, 2022. This was a 1 for 20 reverse split, meaning for each 20 shares of TOPS owned pre-split, the shareholder now owned 1 share. For example, a 5.29100529100529e-08 share position pre-split, became a 2.64550264550265e-09 share position following the split. TOPS's 12th split took place on September 29, 2023. This was a 1 for 12 reverse split, meaning for each 12 shares of TOPS owned pre-split, the shareholder now owned 1 share. For example, a 2.64550264550265e-09 share position pre-split, became a 2.20458553791887e-10 share position following the split.
When a company such as TOP Ships conducts a reverse share split, it is usually because shares have fallen to a lower per-share pricepoint than the company would like. This can be important because, for example, certain types of mutual funds might have a limit governing which stocks they may buy, based upon per-share price. The $5 and $10 pricepoints tend to be important in this regard. Stock exchanges also tend to look at per-share price, setting a lower limit for listing eligibility. So when a company does a reverse split, it is looking mathematically at the market capitalization before and after the reverse split takes place, and concluding that if the market capitilization remains stable, the reduced share count should result in a higher price per share.
Looking at the TOPS split history from start to finish, an original position size of 1000 shares would have turned into 2.20458553791887e-10 today. Below, we examine the compound annual growth rate — CAGR for short — of an investment into TOP Ships shares, starting with a $10,000 purchase of TOPS, presented on a split-history-adjusted basis factoring in the complete TOPS split history.
Growth of $10,000.00
Without Dividends Reinvested
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Start date: |
11/07/2014 |
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End date: |
11/05/2024 |
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Start price/share: |
$365,040,000,000.00 |
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End price/share: |
$7.88 |
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Dividends collected/share: |
$0.00 |
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Total return: |
-100.00% |
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Average Annual Total Return: |
-91.42% |
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Starting investment: |
$10,000.00 |
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Ending investment: |
$0.00 |
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Years: |
10.00 |
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Date |
Ratio |
03/20/2008 | 1 for 3 | 04/21/2014 | 1 for 7 | 02/22/2016 | 1 for 10 | 05/11/2017 | 1 for 20 | 06/23/2017 | 1 for 15 | 08/03/2017 | 1 for 30 | 10/06/2017 | 1 for 2 | 03/26/2018 | 1 for 10 | 08/22/2019 | 1 for 20 | 08/10/2020 | 1 for 25 | 09/23/2022 | 1 for 20 | 09/29/2023 | 1 for 12 |
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