Apr. 11 at 8:19 AM
$UPLD I'm here to bring you bad news. Yesterday, the shareholders approved a stock split of between 1:5 and 1:30, in addition to issuing 2 million shares to employees—more dilution, in other words.
They announced this yesterday after receiving notification from Nasdaq that the stock has been trading below one dollar for 30 days, when they have six months to recover.
In short, they have no confidence that the stock will recover to one dollar, hence the split.
I don't know how the business will evolve or if the new CEO will improve things, but in the short term, things look very bad for shareholders, as this is going to be ripe for short selling.