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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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.

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Citigroup also announced a 1-to-10 reverse split of its stock.

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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.

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Will the reverse split have any effect on the price of the stock?

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