longs think the reason for the delay in the preferred conversion and reverse split is good. In fact it is bad. The delay indicates how out of control this company is and that the will need to most likely expand preferred conversion.
Delay in conversion was likely due to the delay in reporting stress tests. Why convert prior to the findings, when not as much capital may be needed. This only makes sense, and now we have the news that is far better than what was expected. I don't see reverse split on the horizon, govt knows stock is too fragile for that right now.