Attention, those of you who own Hovanian Enterprises (HOV): HOV has enacted a 1 for 25 reverse stock split. As a result, some alterations need to be made to your Snider Investment Method worksheets.
Lattco PRO & Lattco AutoPilot clients: the adjustments have been made for you and should be reflected in your account by next Trade Day.
We’re here to help! If you have a position in HOV, here is a link to the 1-for-25 split document that will tell you step-by-step what to do. Please contact us at 1-888-676-4337 or firstname.lastname@example.org if you have any questions about your HOV position.
HOV is in a frustrating position as it has declined significantly since we initially purchased shares. In most cases, it has been and will remain in winter until the price appreciates. The reverse split may create additional difficulty in implementing the standard Snider Method. At this time we are not recommending clients sell the shares. If you reach a point where you can sell calls on your shares of HOV or the share price is similar to your last purchase price, please contact us. We will evaluate the position together to decide if transmogrification is the appropriate course to take.