OK, so noobie me used WealthSimple to gamble a few dollars to learn about how the stock market works.
So I bought 36 shares @ .28 cents apiece of some shitty little gold mining company called Argonaut.
Their value shot up to 39 cents yesterday because of news it's being eaten by a slightly bigger fish called Alamos.
Can someone ELI5 what this means?
News release, with stock stuff in it:
I get the sense that I'm about to be winning, but I'm not sure what to do.
Oh and to add, something I didn't think of but I've had happen. You may just be paid cash at the deal close for the 0.666 shares of Alamos, which at the moment would be about 9.69 cents, but depends on the value of Alamos at the time. I believe that's due to a broker policy, since you will have < 1 share of the Alamos stock.