Just read the news about YRCW's reverse split"At the meeting, shareholders will be asked to allow the company to increase the amount of authorized shares of common stock from 125 million to 2.005 billion, reduce the par value of those shares from $1 to 1 cent, and approve a reverse stock split that would proportionately reduce the number of common shares."does this mean that my stock currently valued at $0.84 will drop to $0.01 and I'll get 16 such shares of 0.01 each?Regardless of 4th quarter results and company performance, how do you think this reverse split is going to affect the stock price?
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