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Politics : Ask Michael Burke

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To: Joan Osland Graffius who wrote (97631)	10/7/2002 9:18:58 AM
From: Knighty Tin	Read Replies (1) of 132070

Joan, A reverse split is usually considered a sign of pending bankruptcy, so cos. are loath to use it. Besides, having lots of mutual fund ownership has not helped them so far. It means that if these dopes can't own it due to price (and my own firm puts those silly limits on us, too. I need an act of Congress to buy anything under $5), once it starts to run, assuming it ever goes up again, the funds will pile on at the higher price. In general, the funds with that restriction can hold the shares. They just can't buy new shares of a stock under a certain price.

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