To the $DEFI (+4.35%) investors: I’d generally like to invest because I find the price very attractive right now (market capitalization is below cash reserves) and I also believe that the crypto winter will soon be over, at which point the price will get a boost again. The current price range has held up well as support.
The only—but unfortunately significant—reason that’s currently holding me back is the looming reverse split to meet the NASDAQ deadline.
This usually leads to automatic or technical sell-offs because the order limits don’t check whether the price reaches a certain level through an increase or a consolidation. Unfortunately, I’ve already had painful experiences with price drops of around 30–40% following a reverse split.
As far as I understand, the shareholders’ meeting approved the split in principle a few days ago.
Now here’s my question, about which I haven’t been able to find any information: Will this definitely happen, or is it a backup plan in case the share price hasn’t risen above $1 by the end of the deadline (I think it’s September)?
In the latter case, I’d consider buying in; in the former, I’d probably wait a bit longer.
