No reverse split required - 2 reasonsOne is we are close to being a dollar again!
Second, there is talk on the internet that its not required that they can get a 6 month extension from NASDAQ! Being the top trader on Nasdaq - and options - the work on trade volume. I think thats what we will see, and we should know soon! Maybe tomorrow at the conference??
But what does it mean? SHORTS have a very very big PROBLEM. The general playbook is to short any company splitting their stock, because most fail. But that ship has sailed - and the short are in water over their head without a paddle.
Expect a big spike to $1.20 or so - maybe higher - probably in after hours.
But the best thing is not to be short, then you have nothing to worry about. Who knows what will happen, but I would not sleep well tonight if I were short. Probably 50m shares are short maybe more.