Funny, I think the same way as you regarding price with penny stocks seemingly easier to multiply in price. But, I don't think that this is so correct. Facebook in the time I have owned BAA is up almost 3X from low 40's and there are plenty of high priced stocks including PCLN, AAPL and tons more that have done even better in a little longer time frame. In the end though, for some reason I do "feel" like I get more leverage with a penny stock.
Seems we've had the same experiences .. because I never was in a stock that reversed-split and it didn't tank afterwards. People say .. the market cap doesn't change .. true .. but it does when it tanks subsequent to a reverse split to desperately stay on an exchange.
The only thing I would say where a reverse split would be beneficial is to get the dollar pps value over a specific price for funds to buy. Many of these investment houses have charters, which don't allow a purchase if the stock pps is under a specific dollar price.
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