Question: In recent years Constable Inc. has suffered losses, and its stock currently sells for only $0.69 per share. Management wants to use a reverse split
In recent years Constable Inc. has suffered losses, and its stock currently sells for only $0.69 per share. Management wants to use a reverse split to get the price up to a more "reasonable" level, which it thinks is $63 per share. How many of the old shares must be given up for one new share to achieve the $63 price, assuming this transaction has no effect on total market value?
The answer on my screen is 45.34
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