A reverse split is just another way to tramp in dog poop. Whether you have 100 shares at 1 cent or 1 share at a dollar...it's the same thing. It's just a finance trick to make it appear your stock price is climbing and your outstanding share count is lower. The garbage this company did was wait for their stock price to become almost nonexistent before issuing the reverse split. If they really cared about their shareholders they would have bought back outstanding shares and worked to raise the price legitimately.
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