"The reverse stock split, as previously announced, is part of ExpressJet's continuing efforts toward improving liquidity for its stockholders"...
LOL !!!
THERE's the problem... Management thinks it is their job to facilitate efforts to liquidate the shareholders... ???
They'd obviously do better by their shareholders if they worried more about retaining VALUE for their shareholders instead of enhancing liquidity while destroying share value ???
In any case, this thing is pretty well following the time line, and tracking well along the path they laid out for it a few months ago, about as predictably as you'd expect...
There will still be some lag, I'd guess, as the per share valuation statistics take some time to catch up with the new numbers of shares in the financial media. The reverse split ought to help somewhat with the problem of the myopic perspective on valuation based on badly reported data, as the numbers of shares suddenly go from 200 million to 20 million... which, going from 44 million to 20 million shares, will immediately double up on the per share values from what was being reported prior to the dilution... with another bounce in reported valuation coming when the media reports finally get around to cutting the debt figure in half ?
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