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$Farmmi (FAMI.US)$ Some people talked about reverse split. S...
$Farmmi (FAMI.US)$ Some people talked about reverse split. So just a quick question: Someone on a website claimed that Farmmi should not find a reverse split necessary. After learning more, I feel that he could be right. Can someone advise me on why Farmmi would do a reverse split?
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DrStrang3 : to meet the $1 requirement, with reverse split they can easily achieve that. 1 to 10 for sure
Jovan Soh OP DrStrang3 : I see. Thank you
FireMac42718 : reverse split as the previous post said is to get back above a dollar so a 1 to 10 split would take the price of say 0.32 to 3.20 after the split. yes the compliance date I believe is Nov 30th but Fami has already requested a 180 days extension so there shouldn't be any worries on a reverse split sometime next year by then there's no reason not to believe they will hit $1 for the ten days by then... I'm not a big believer of Chinese stocks in the US market but I really think Fami is doing everything right and just in past few months they have done some really good things. They are heading in right direction and you can only keep a stock down for so long until it runs and that's how this stock does. the bears and shorter come in a play for a month or two then the bulls come in and take over for a few days and then it seems to repeat .