They are typically deployed by struggling small companies, hoping to avoid getting bounced from a stock exchange with a minimum price requirement. Reverse stock splits are rare for a company of GE’s size. This procedure took effect after the market closed on Friday, combining every eight shares of GE common stock into one share, and causing the price to increase proportionately. What Culp did here to lift the stock price is something different: He engineered a 1-for-8 reverse stock split, a move he announced in March and which shareholders approved in May. Since then, Culp has reduced GE’s debt, improved its manufacturing workflow and changed the corporate culture.
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