“How GE Boosted Its Share Price by 700%”
August 2, 2021
“General Electric just increased its stock price by more than $90 a share. GE stock (ticker: GE) will open for trading Monday at about $104 a share, after closing Friday at $12.95. The company completed its 1-for-8 reverse stock split Friday evening.
At the time the split was announced in March, CEO Larry Culp explained to Barron’s he wanted GE’s stock price and share count to be more comparable to peers. Honeywell International (HON) and Eaton (ETN), for instance, both have triple-digit stock prices…”
https://www.barrons.com/articles/ge-stock-price-51627766341?siteid=yhoof2
Since I’ve stared doing this, this is the first time I’ve ever seen a stock rise after a reverse stock split. I guess there’s a first for everything. It’s just not worth the risk to hold stock while they are doing that trash. Companies know this in my opinion and thats why a lot of them will try to be secretive about when a reverse stock split will happen.