Overland Storage is combining three shares into one to meet Nasdaq listing rules, which require shares to trade consistently above the dollar level. Overland has been making heavy weather of selling its tape and disk data protection products and, latterly, its Snap Server filers. It received a so-called deficiency letter from …
Surely getting millions of dollars for having their stock unfairly manipulated should up their value a bit, no?
"Reverse stock-split". You mean a stock consolidation.
Go Overland Go...
Unfortunately, reverse stock splits often end in tears with the stock further dropping after the split.
Its a shame really, hope Overland make it through. They need to do something a bit more interesting but they already used up all that cash with the Snap Appliance purchase and I dont know if they got it in them to create something new and exciting.
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