All reverse mind you. Once again the guppies fed the sharks. We are told that only sharks remain now so join the feasting. Until you are transformed into a guppy as many of your predecessors were.
Covidien (COV), firm domiciled in Ireland.
Company flatlined at under .50 from 2007 to March, 2011. On March 12, 2011 they initiated a 100:1 reverse split, followed by a one hundred-for-one forward split of the Company's ordinary shares, bringing the price of the company to over $51. Since then it has traded in the range of $56.91-42.87.
Cramer on his show indicated that this company would profit greatly if the Obama healthcare program were initiated.
One little item bothers me, that reverse split of 100:1. I guess they got rid of all the little guppies and kept the sharks as shareholders. The question is, who's going to be fed to the sharks.
Chesapeake has also been touted and now has been vilified because of the actions of the CEO. Dubious to say the least.
I myself was a holder of the stock, sold the stock, and purchased a position in Chesapeake Midstream Partners in the hope that they would be treated more favoravably in turbulent times
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