Usually, You work hard to split your shares... You split shares in order to cut the price in half in hopes to persuade more people to buy. If you're lucky enough to have your shares split, you get double the number of shares you had and you sit back and watch your shares reclaim the value.
Westwood One just had to engineer a reverse split. So, basically... if you had 200 shares, you now have one. And your one share is worth $6. Meaning, before the reverse-split (which, if you would call it what it is, you'd call it a "combination") your 200 shares were worth three cents apiece.
I give it a year before these recombined shares are once again worth three cents each... Especially after Metro offices are closed in most markets. Let's see certain clients stay on-board after their traffic starts coming from Miami.
Westwood One just had to engineer a reverse split. So, basically... if you had 200 shares, you now have one. And your one share is worth $6. Meaning, before the reverse-split (which, if you would call it what it is, you'd call it a "combination") your 200 shares were worth three cents apiece.
I give it a year before these recombined shares are once again worth three cents each... Especially after Metro offices are closed in most markets. Let's see certain clients stay on-board after their traffic starts coming from Miami.
