on 12/27/2012 I bought ABT stock did I just lose half my money on 01/02/2013?
- DavidLv 77 years agoFavorite Answer
The stock has split into two companies.
One of the two will be a diversified medical products company that will keep the Abbott name and about $22 in annual revenue ,and the other will be $18 billion pharmaceutical business, to be called Abbvie. The split will take place via a tax-free distribution to Abbott shareholders of publicly-tradable stock in the new company.
There should be no change to your ownership value.
Abbott Laboratories (ABT) and its drug- company spinoff AbbVie Inc. both rose as their shares traded on the open market for the first time as separate businesses.
- Common SenseLv 77 years ago
You put your hard earned money into a stock and you're not up on important news (before you buy it). What's up with that?
- 7 years ago
No, it split into two companies. Google "ABT split".