Friday, March 2, 2012

ACTC file for reverse split . Stem Cells to cure blindness

Listened to ACTC earnings call, stated to file a preliminary proxy statement with the SEC for a share holder approval for a reverse split of between 1 for 20 and 1 for 80 shares. They are doing this so they can be listed on the Nasdaq. The market didn't like that news and the stock was down 20% to .09 I added more shares at .092 and sold at .096, should of waited but still make money. Generally a reverse split is bad news. What happens after the split the share price goes down most of the time. Will this happen with ACTC I don't know. If the trials continue to show a cure is possible then the share price will be $10 after the split. Will buy more shares for a trade. Keeping my core holdings at 20,000 shares which would be 250 share after an 1 for 80 share reverse split. This company is a big gamble, don't buy if you can't afford to lose it all.

Good luck  in this rigged casino,

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