MO is that this B of D's is manned my idiots. At this time there is no logical reason for a RS or to have a 50% stock dilution. MO is we have a Board and all members are short on smarts. MO. Stock has been paying a dividend regularly and it has had a great daily sales average. RS does not make sense.
Unfortunately I agree with you. I checked back in out of curiosity...when I first saw the reverse stock split as an agenda item for the BOD meeting, I sold all my 5,000 shares which I'd accumulated over 4 years. This, due to my experience with a couple of other stocks I had in the past with reverse splits. The probability is that holding 1/7 the shares you used to have, will take several years out to recover or provide any material capital gains. As I've held for over 4 years already, I figure there are more promising places to invest my money over the next 3-5 years, my usual long-term investing timeline. Good Luck.
I thought that the CEO and other upper mgt helped select people to the B of D's that had good sense. Looks like I was wrong. Maybe we need to get rid of upper mgt and most of the Board, they work together. History says this arrangement leads to great collusion and stupidity. Just my opinion..