Kotaku
So long, "Atari".
Video game publisher Atari announced that it will seek approval from shareholders to effect a one-for-ten reverse stock split, in an attempt to raise the company's sagging $0.50 share price above the Nasdaq's $1 minimum requirement for continued listing.In addition to the stock split, the company is also asking for shareholders' approval to reduce the company's outstanding shares to one-tenth their current number.
I'm not a stock market expert, but even I know that's desperate.
You can split stock all you want, but at the end of the day, you can't polish a turd.
Atari to Effect 1-for-10 Reverse Split to Boost Share Price [digitalmediawire]
