that say there will be a reverse split, or have no chance of attaining $1+ without it. Look at the 10yr chart of KOG. I know apples and oranges, o&g and pharma. But still a possibility of going penny to dollar land without a r/s is real.
Yep we all got em, coulda, shoulda. When GGP filed for bk protection, I got in in at .40 and flipped three or four times, tripple or quad my money and didnt look back, 9 months later it was at $16. Not gonna let that happen here, too much potiential. Long and Strong bruthas.
Nothing wrong with a r/s when a company does it from a position of strength. The reason why most people view them unfavorably is a high majority of the companies that implement a r/s do it from a position of weakness...and it becomes the final desperate act of a company on its way out. Companies that do them from a position of strength...appreciating share price, new strong hand shareholders, good news on the business...etc. gain advantage from a r/s with the biggest being up-listing to Nasdaq national and enabling deep pocket funds to invest.
Oh, you HAD to mention KOG. I was "in" at under .50 with a LOT of shares. I didn't have the sense to simply hold it. Made some good $$, but was left with only a fraction of my original shares after "taking profit" too early, trying to trade it and time it. Did the same with SIRI at .30. That stock had over a billion shares and all the naysayers "back in the day" either claimed bk for the co. or that no stock with that many shares would EVER make it to $1. Live and learn ... I'm a slow learner. Had LVS at $3 in 2009, too! Sold that for a triple and never looked back because with it over $50, it makes me wan to cry! lol
I undersatnd and have done the same recently ( last year) in several stocks I also held to long in a few and had to take less than I could have.. And yes I got a few just right like AMBS in at .028 out at .17 but any profit is good profit dont be greedy.. I do plan on holding several hundred thousand shares very long here.. I have continued to add here and hold a reasonable position.. This one I think is worth the risk