You people are truly retarded for doing this.
This really happened today.
Why? Because of a reverse spit, naturally
The new ADS to ordinary share ratio of 1 for 10 will be effective prior to the commencement of trading on the NYSE on Monday, December 14, 2015. The change in exchange ratio for the ADSs will have the same effect as a 1-for-10 reverse stock split of the ADSs, reducing the number of outstanding ADSs, as of close of business on December 1, 2015, from 1,228,635 to approximately 122,863 ADSs.
In all of my years, I’ve never seen something as ridiculous as this. Back in the dot com days, stock splits were met with buying frenzies. But, even then, reverse splits were frowned upon because it usually meant the stock was a piece of shit.
Shares of BSI are now halted after Simple Jacks ran it up 900%.
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Still amazes me how many people think AAPL, NFLX, etc. got “cheaper” when they split.
Shkreli up to shenanigans.
Shorts may be running for cover early afraid of another KBIO debacle once the float is reduced to 122K shares … really can’t blame them for wanting to cover their asses asap.