Okay… so a little vent session.
WHY ARE PRE-IPO REVERSE SPLITS A LEGAL THING????
From what I’m reading this is happening more and more often to reduce outstanding share quantities and raise IPO stock price to make it look more attractive.
Rather than having 1000 shares at $0.50 I would have 100 $5.00 shares at the $5.00 IPO listing?!?!?!?!?!
Looks like highway robbery of that 10x capital gain to me.
Somebody let me know if I have totally misunderstood this thing.