Everybody is very much surprised to see the reverse stock split of NYSE: LEE stock as 10x return has just appeared on Yahoo Finance and Investing.com.
On March 2, Lee Enterprises already announced a 1-for-10 reverse stock split by adding LEE1 option/right to receive $0.10 for each $1 valued LEE. If the stock trades at $26 the right to buy each stock equals $2.60.
The company still has millions of visitors who read and interact via publishing news platforms. The revenue obviously comes from advertising in the form of posts, banners, Vlogs, and more. By making the stock look expensive Lee expects to be a target of long-term investors who rarely sell their assets.
Editor and Computer Expert
A hardcore tech enthusiast and computer expert Uson Abdilazhanov who holds a degree in communications started writing in his personal blogs since 2012. That time he was interested in the technical part of the computer. But now the software aspect plays an important role in his career. Currently, he runs a PC building and repairing shop which helps a lot of designers and gamers who always like to try new things.