24/7 shares are all weak

But will reverse split be enough to stop a Nasdaq drop...

But will reverse split be enough to stop a Nasdaq drop...

Interactive marketing firm 24/7 is seeking a reverse stock split in an effort to boost its share price and keep its listing on Nasdaq. Shareholders will be asked to vote over the next few weeks on reducing the volume of shares currently traded. Under a reverse stock split 24/7 shareholders would receive one share in exchange for a certain number of outstanding shares. 24/7 shares have been trading below the Nasdaq minimum required trading price of $1 since March. Shares in the company slumped twelve per cent to 15 cents yesterday before closing at 18 cents. The company had a 52-week high of $14.25.