Okay, instead, let me educate you a bit on sand fleas, so when you come home from a day on the beach with itchy welts all over your legs and feet, youâll know what happened. Also, because Iâve been researching the stupid things for two days and it seems a shame not to share. First off, sand fleas arenât insects. Theyâre teeny tiny crustaceans. Too little to boil and serve with melted butter. They actually resemble shrimp, and, howâs this for irony-- I actually saw a dead one on my towel at the beach, picked it up and studied it for a few seconds, and decided it was a brine shrimp.
Preferred stock (also called preferred shares, preference shares or simply preferreds) is a type of stock which may have any combination of features not possessed by common stock including properties of both an equity and a debt instrument, and is generally considered a hybrid instrument.
It is important to note, however, that typically the conversion is one-sided, in that you cannot convert back to preferred stock. Preferred stock may also be designed as non-convertible. Callable preferred stock is a type of preferred stock which is callable at a given date in the future at the issuer's discretion at the redemption price. The redemption price may be the original issue price or slightly higher than the original issue price.