Frederick Brewing - Blue Ridge beer (BLUE) Message Board

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Non-Tech : Frederick Brewing - Blue Ridge beer (BLUE)

BLUE 4.970

0.0%

Jun 2 5:00 PM EST

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To: JustMy2Cents who wrote (313)	2/10/1999 2:15:00 PM
From: Ritchmc	Read Replies (1) of 354

Vote no!!! A 10 to 1 reverse split will bring the price from .20 to 2.00. Then it will drift down again, because nobody will trust management not to play their games again and sell a lot of shares on the market and then when it goes back to .25, announce another reverse split. The management of this company has clearly shown that they don't give a rats ass about the stockholders. We first got a whiff of the reverse stock split at about $1. The company thought they could satisy NASDAQ $5 rule by reversing up to the $10 range. Of course everyones knows what happens (except management) in 90% of the reverse stock splits. The stock immediately tanks on the announcement, and the reverse split merely puts the stock back where it was before the split annoucement. Meanwhile any faith the investors had in the company is completely shattered. To satisfy NASDAQ they would now have to announce a 40 to 1 split to get it to $8 (that would give them a few days before it drifted below $5 again). If they announced that they canceled the split the price would probably jump to $.50 pretty quickly.

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