NIGHTLY BUSINESS REVIEW

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For those who enjoy Robinhood Snacks, Humbly here is another to add to your hunger collection.

Chaos from the crude oil collapse has caused the USO ETF To do a reverse split. they’re doing a 8:1 Reverse Split later this month. Why are they doing it? What is a reverse split? #FinanceED #OIL #STOCK #Collapse

From CNBC: “The oil ETF trying to avoid imploding on retail investors attempts another trick with reverse split” Truer words have not been said in the stock market today.

Stock Mentioned: United States Oil Fund LP NYSE ARCA: USO

More: The United States Oil Fund, a popular exchange-traded security known for its ‘USO’ ticker, announced another change to the fund’s makeup on Wednesday as it tries desperately to retain investors after a 77% drop this year. USCF, the manager of the fund, said that it will execute a one-for-eight reverse share split for USO that will go into effect after the close on April 28. USCF, the manager of the fund, said on Tuesday that it was temporarily suspending the issuance of so-called creation baskets. Creation baskets are how an ETF creates new shares to meet demand. The baskets hold the underlying securities, which in this case are plummeting oil futures. With the halting of these creation baskets, the ETF will essentially now trade with a fixed number of shares like a closed-end mutual fund.

More Episodes of the Nightly Business Report:

Coverage and Analysis of the most popular stocks on Robinhood, Fidelity, and the stock market: Playlist: https://www.youtube.com/playlist?list=PLXi2qdd-XOTumdc8iC8HiUUKOt5r1f6gu

Learn about stocks and sectors on the move; learn about ETFs; learn about commodities and bonds; learn about economics; and learn other relevant financial information. Make the Nightly Business Review your daily source for financial information and financial education. Stock Market Education for Gen Z, Millennials, Gen Xes; and yes our lovely Boomers. Inclusion is the key. NOT Exclusion.

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