Ihave yet to see a reverse split that doesn't drop 30 to 50%. shorting it at the rev. would be a good way to make some money. I've been stung by them and would be out already. Palm seems to have a better situation than many of the rev. split cos. Doesn't change the drop just tempers the amount it will drop. A good 10K might make the difference. IMHO.
The shorts dont know they are getting squeezed by not being able to cover their positions... They thought that the squeezy feeling was their fat wallets which are causing their pants to get tight. They also thought it was all that fine food they were eating and the constant erections from all the beautiful women they now have hanging around.
I have seen a lot of shares go by under 30 cents. 100 - 1 short action from 430.