Will the reverse split have any effect on the price of the stock?
Sirius, meanwhile, won't be reporting any earnings per share anytime soon, so management desperately wants to avoid a reverse split.
Two individuals managed to buy more than 110% of Global Links shares in the confusion after the 350-to-1 reverse split occurred.
When Citigroup (C) goes through its 1 for 10 reverse split, both technical analysts and high frequency traders will be making adjustments.
The time for a reverse split is when there are real earnings and you would want to make them appear larger when spread over a smaller share count.
More than a year ago shareholders voted to approve a reverse split to get the stock price back above the Nasdaq-mandated price point, should it have become necessary.
Citigroup also announced a 1-to-10 reverse split of its stock.
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After the 2007 decision by Sun Microsystems for a one-to-four reverse split, shares ended up losing 80% of their value in following year before eventually being acquired by Oracle ( ORCL).
After a huge late summer rally Citi is still down over 85 percent from the high water mark before its 1 for 10 reverse split, the corporate conceit big banks indulge in for cosmetic purposes.
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MetroPCS will declare a 1-for-2 reverse split.
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Data obtained under a Freedom of Information Act request by David Patch, a well-known blogger in the movement to eradicate manipulative naked short-selling, showed an astonishingly high degree of trade settlement failures in Global Links shares in the days and weeks following a 350-to-1 reverse split in February 2005.
We recently updated our analysis to account for the merger and subsequent reverse stock split.
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The reverse stock split will reduce the number of outstanding shares to 2.9 billion from 29 billion.
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Buying in 10% of the shares is mathematically identical to paying a special dividend equivalent to 10% of the market cap and then declaring a 9-for-10 reverse stock split.
Also the fear of de-listing has been lifted since the stock has traded wll above a dollar for several months now, eliminating the need for a reverse stock split.
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The 80%-20% sales split today between traditional and CFL bulbs in the U.S. today will reverse within five years, Yan says, helping to create demand for hundreds of millions of replacement bulbs globally.
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