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Friday, March 30, 2012 5:49:17 PM
I simply can't think of decent reason why it would? But I can think of a lot of reasons why it would go down. For example, I can guarantee that some shareholders will be oblivious that a reverse split even happened. There will be some who wake up on Monday, or whenever the pps is adjusted upward by a factor of 1000, and think they made beaucoup money. And they will sell, driving the price down. Of course a split (reverse or forward) is a zero sum game at the time the split occurs. In addition, by reserve splitting the pps will go up by a factor of a thousand, making it less attractive to those who desire millions of shares.
Of course, at the end of the day no one on this board can guarantee what will happen post split. But every reverse split I've seen turned out to be a disaster for the shareholder.
GLTA
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