I agree! I have been in 5 companies that performed reverse splits . . . to help the pps. The share holders were burned by all 5 companies. Only folks that came out ahead were the folks that sold before the RS and the management of the companies. Basically, the management also sold out so that, obviously, the company died. Or, management was able to take complete control, sometimes, going "private", at bargain prices.
All in all, the word I have heard is that the SEC is setting rules that will make an RS more difficult in order to provide a modicum of protection for the average shareholder.
If there is serious movement toward an RS and the pps has gone up to where I can even break-even ( I am a long, long), I will probably sell and move on. To me, an RS is an indicator that a company does not really GAS about the shareholders. If they did, the company would do the opposite and do a stock split to reward the investors . . . say 10 shares for every one held as of a certain date.
Just my POV . . . for more info just google "reverse split".
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