If the purpose of the split was to inject some sort of psychological strength into the stock, whoever advised on this process does not know anything about stocks.
Important pre-requisites:
- Many interested onlookers
and
- A bunch of good news waiting in the wings
A reverse split without the above seriously devalues the stock even further.
What is the pre-split value now? 1.1?
will the reverse split generate fresh action?, page-9
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