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Split Ratio
1:15
Fractional Policy
Round Up ✓
Profit Potential
$4.20
Effective Date
2024-06-15
Current Price
$0.28
Post-Split Price
$4.20

How This Trade Works

Here's a step-by-step breakdown of how the TOPS reverse split arbitrage works using TOP Ships Inc's actual numbers.

1

Buy 14 shares of TOPS

Purchase 14 shares at $0.28 each. Total cost: $3.92. You need exactly 14 shares because the split ratio is 1:15.

2

The 1:15 reverse split executes

Your 14 shares are consolidated at the 1:15 ratio. Since 14 ÷ 15 = 0.9333, you end up with a fractional share of 0.9333 post-split shares.

3

Fractional share rounds up to 1 full share

Because TOP Ships Inc rounds up fractional shares, your 0.9333 shares become 1 full share worth $4.20.

4

Sell for profit

Sell your 1 post-split share at $4.20. You paid $3.92 and received $4.20.

$0.28
Profit per position (7% ROI)

Risk Factors

⚠

Penny Stock Volatility

TOPS trades at $0.28 per share, classifying it as a penny stock. Penny stocks are subject to extreme price swings, low institutional coverage, and higher spreads. The share price could drop significantly between your purchase and the split execution date.

⚠

Liquidity Risk

At $0.28 per share, TOPS may have limited trading volume and wide bid-ask spreads. This can make it difficult to enter or exit your position at your desired price, potentially reducing your actual profit.

ℹ

Split Already Completed

This reverse split was completed on 2024-06-15. The information here is for educational purposes and historical reference. This specific trade can no longer be executed.

⚠

Broker Policy Changes

Brokers may change their fractional share rounding policies at any time. Always verify your broker's current policy before placing an RSA trade. What worked for previous splits may not apply to future ones.

Broker Fractional Share Policies

For TOPS's 1:15 reverse split, Robinhood rounds up fractional shares — making it the preferred broker for this trade. Other brokers cash out the fractional portion, which means you'd receive a small cash payment instead of a full share.

Robinhood Rounds Up ✓
Interactive Brokers Cash Out
TD Ameritrade Cash Out
Charles Schwab Cash Out

Frequently Asked Questions

What is the TOPS reverse stock split ratio?
TOP Ships Inc executed a 1:15 reverse stock split on 2024-06-15. This means every 15 pre-split shares are consolidated into 1 post-split share, raising the per-share price from $0.28 to $4.20.
Does TOPS round up fractional shares?
Yes. TOP Ships Inc's fractional share policy rounds up, meaning if you hold any fractional share amount after the split, your broker will round it up to a full share. This is what creates the RSA profit opportunity.
How much profit can you make from the TOPS reverse split?
By purchasing 14 shares at $0.28 each (total cost: $3.92), the 1:15 split converts them into a fractional share that rounds up to 1 full share worth $4.20. That's a profit of $0.28 per position, or roughly 7% ROI.
Which brokers round up fractional shares for TOPS?
Robinhood rounds up fractional shares for TOPS, making it the preferred broker for this RSA trade. Interactive Brokers, TD Ameritrade, and Charles Schwab typically cash out fractional shares instead. Always verify your broker's current fractional share policy before placing a trade.
Is the TOPS reverse split still tradeable?
The TOPS reverse split is completed (effective date: 2024-06-15). While this specific opportunity has passed, TradeLabs continuously monitors the market for new reverse split arbitrage opportunities with similar characteristics.

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