RNIN Splits, Sheds 20% Of Its Value
Adrian J Cotterill, Editor-in-Chief
On November 30th, 2012 in order to meet the minimum bid requirement to stay listed on NASDAQ, RNIN announced a 1-for-5 reverse split and this Monday Wireless Ronin completed the stock split.
It immediately shed 20% of its value – the stock closed at USD 1.77, off 0.43 and by our reckoning its market capitalisation has now sunk to USD 8.8 million.
Monday’s price is equivalent to 37 cents pre-split!
December 18th, 2012 at 15:22 @682
As I have said numerous times before, this company never did have a real business, does not now have a real business and will not in the future have a real business. What a waste of $90M+ of investment.
December 18th, 2012 at 22:03 @960
Agree with Analyst2.
I am mystified at how some investment group keeps chasing the same story mentioned over 5 years ago on how this might be BIG someday, yet years after story by story, it’s never materialized to be a $10 million company even. These are people who specialize on finding good businesses to invest in, yet they were all fooled by this one.
What is surprising even more is that the past leadership didn’t exactly have a good record with investors, yet all of this money was still invested in a company that can’t scale up or down to profitability.