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Cane18 said:
Stock traded 141,000,000 shares today, and not even 11AM???????
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That is totally insane ... according to Market Watch the current float (number of shares AVAILABLE FOR TRADING) after the FIRST reverse split was only 14.5 million shares. That would mean that the entire float has been traded over TEN TIMES in just one day. Day traders are churning that stock for pennies.
 
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Rickd said:
That is totally insane ... according to Market Watch the current float (number of shares AVAILABLE FOR TRADING) after the reverse split is only 14.5 million shares. That would mean that the entire float has been traded over TEN TIMES in just one day. Day traders are churning that stock for pennies.
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Cane fans getting ready for flip season.
 
Stock hit a high today of 20 cents and is down to 9.6 cents in the after hours.

Here is the news that triggered this madness:

LifeWallet’s Common Stock Will Begin Trading on Split-Adjusted Basis on Monday, November 18, 2024

MIAMI, Nov. 12, 2024 (GLOBE NEWSWIRE) -- MSP Recovery, Inc. d/b/a LifeWallet (NASDAQ: LIFW) (“LifeWallet,” or the “Company”), a Medicare, Medicaid, commercial, and secondary payer reimbursement recovery and technology leader, today announced that it will affect a reverse stock split of its Class A common stock at a reverse stock split ratio of 1-for-25, effective at 11:59 P.M. on November 15, 2024, in order to regain compliance with the minimum $1.00 bid price per share requirement of Nasdaq’s Marketplace Rule 5450(a)(1).

Immediately after the reverse split becomes effective, there will be approximately 1.6 million shares of Class A common stock issued and outstanding.


Sure that Big Joe will be buying more of the stock
 
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Cane18 said:
Stock hit a high today of 20 cents and is down to 9.6 cents in the after hours.

Here is the news that triggered this madness:

LifeWallet’s Common Stock Will Begin Trading on Split-Adjusted Basis on Monday, November 18, 2024

MIAMI, Nov. 12, 2024 (GLOBE NEWSWIRE) -- MSP Recovery, Inc. d/b/a LifeWallet (NASDAQ: LIFW) (“LifeWallet,” or the “Company”), a Medicare, Medicaid, commercial, and secondary payer reimbursement recovery and technology leader, today announced that it will affect a reverse stock split of its Class A common stock at a reverse stock split ratio of 1-for-25, effective at 11:59 P.M. on November 15, 2024, in order to regain compliance with the minimum $1.00 bid price per share requirement of Nasdaq’s Marketplace Rule 5450(a)(1).

Immediately after the reverse split becomes effective, there will be approximately 1.6 million shares of Class A common stock issued and outstanding.


Sure that Big Joe will be buying more of the stock
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ANOTHER 251 REVERSE SPLIT??? There will now only be 1.6 million total shares of stock outstanding. This must be a totally unprecedented devaluation.
 
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TrumpyCane said:
TrumpyCane could be mistaken but did Ruiz have a well established law firm?
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Yes, in the sense that he had some decent cases and seemingly did well, even though I think it's safe to say that generally speaking, folks in the community did not hold him in high regard as a brilliant legal mind or anything like that. That said, there was NEVER any indication that he could turn that into being some prominent Miami booster which was why I was always very skeptical of him and his involvement from the inception.
 
AlexCane said:
Yes, in the sense that he had some decent cases and seemingly did well, even though I think it's safe to say that generally speaking, folks in the community did not hold him in high regard as a brilliant legal mind or anything like that. That said, there was NEVER any indication that he could turn that into being some prominent Miami booster which was why I was always very skeptical of him and his involvement from the inception.
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More tangible success: Ruiz as a lawyer or Mario as a coach.
 
I finally sold (gave away basically ) what little stock I had left... Learned my lesson there.... Thankfully it didn't hurt but still losing sucks.... Least I beat the latest split.. if that's a consolation....
 
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But I was told Ruiz was the real deal because he "owns" his own private airplane!

Some people don't know how many works.
 
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SHEER INSANITY There are now 1.4 million shares outstanding and the stock has traded 23,800,000 shares as of noon time today with the stock price fluctuating between $1.62 and $1.86.
 
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