$Blue Star Foods (BSFC.US)$ anyone read why the 1-50 r/s?
$Blue Star Foods(BSFC.US$ anyone read why the 1-50 r/s?
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Jenna Ragan : They have to meet the minimum 1. per share
there has been news about deals to further the company but the stock has not risen.
I am still hopeful that this will be for the best.
Best of luck to you
71774971 : they have to comply with $1 a share to be listed on the stock exchange. when it falls below, they have so many months to get it above the $1. since they can't, a r/s reduces the number of shares and increases the stock price. Right now, the float is at 45.05 million after the r/s it will be at 901,000. meaning every 901,000 market cap, the stock will trade at $1 instead of the 45 million market cap for each $1
dirtymike89OP : so should I short?
71774971 : personally, I would be very careful with shorting. with a low float, the stock could take off. it is very easily manipulated. the choice is really up to you and how you see to play it. not giving financial advice just how I see it.
dirtymike89OP 71774971: thank you for the insight!!