Palm seeking a reverse stock split
Source: Nando Times
reaper: I Think I smell something bad for palm down the road, When they are wanting to
reverse stock split ratio from one-for-10 to one-for-20
why are they doing this make it more appealing to a buyer? or somthing else in mind What do you think?
SANTA CLARA, Calif. (July 27, 2002 2:43 p.m. EDT) - Hoping to boost its sagging stock, handheld device maker Palm Inc. planned to ask shareholders to approve a reverse stock split.
Reverse stock splits increase a company's stock price, and in unanimously approving the proposal, Palm's board of directors said it thinks the move would better position the company for the planned spinoff of its software division, PalmSource.
If shareholders approve, the Palm board would choose a reverse stock split ratio from one-for-10 to one-for-20, and implement it any time before April 1.
