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I understand and share your confusion. I THOUGHT I understood the stock split process and holders of record etc, until my investment group planned to purchase CISCO after the split. One of our members INSISTED that we need not wait until the split, but to make our all wrong to us, so we waited. We even consulted a broker, becasue why would people continue to trade in the stock if a split had been anounce???Volume was high preceeding the split. The broker said "Because they are stupid." Sure enough, the member purchased her stock on March 20 (split was on 22 or 23rd and received a letter stating she had purchased on a "due bill" and would receive double the number of stock certificated she had purchased. I have been through different site glossarys and have not found the term holder or record, or due bill. I am at loss to explain the process that I THOUGHT I understood. :)
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