Its not the Reverse Split which hurts shareholders, its dilution. I've seen this in another stock that R/S and then didn't increase its O/S for about a year. Once they started to increase the O/S the share price crashed.
What happened in $BRGO is liquidity dried up for several reasons. Some of them relate to a lack of effective communication with the market, some due to dilution, and some for other factors.
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