“Chesapeake Energy’s ‘very low’ stock price prompts reverse split plans”
February 27, 2020
“Shares of Chesapeake Energy Corp. tumbled to another record low Wednesday, after the oil and natural gas production company said it was planning for a reverse stock split and that the commodities pricing environment has “further deteriorated” in recent weeks…
The stock CHK, -16.40% dove 30.5% to 30.86 cents on very heavy volume, to close at the 14th record low in the 17 trading sessions so far in February. Trading volume ballooned to 235.3 million shares, enough to make the stock the most actively traded on major U.S. exchanges…”
I was going to invest heavily in this when it reached 30 cents but not now. Reverse stock splits are a big no-no for me.