$LUXE Announces Date of Forward Stock Split
November 17th, 2009 at 8:03 am Posted by The Dean
Yesterday morning, $LUXE announced that the company’s 3-for-1 forward stock split will become effective on Tuesday, December 1, 2009.
$LUXE President Shane Broesky has suggested that the decision for this transaction came with advisement from discussion and recommendations from various financial groups.
Since $LUXE‘s outstanding shares will triple to 75,750,000, The Dean believes this stock split is part of the company’s growth and expansion strategy.
The press release confirms that more capital is necessary for $LUXE to expand their West Central Alberta project but The Dean knows that these types of stock splits tend to draw attention to the stock, which could lead to more buying and an increase in share value.
When $SLPO (then $SLAT) issued their 3-for-1 forward stock split, the stock jumped 50%—making for additional profits for Honors Students who learned about the company before it appeared on other newsletters.
The Dean believes $LUXE could also see volume due to pending news about “an initial entry into a significant oil and gas development and exploration project in Northeastern British Columbia.” The release suggests that news about this project “will be announced shortly.”
The Dean has told the CollegeStock Community several times that if a company isn’t growing, it’s slowing. The Dean thinks that $LUXE has a plan for growth and the stock split in less than two weeks could bring more volume to this penny stock.
