Follow us:

Microsoft Pri0

Welcome to Microsoft Pri0: That's Microspeak for top priority, and that's the news and observations you'll find here from Seattle Times technology reporter Matt Day.

May 23, 2006 at 11:23 AM

Loudeye: Reverse stock split

Struggling Seattle digital music company Loudeye announced a one-for-10 reverse stock split in a regulatory filing today. In other words, people who held 10 shares of Loudeye common stock now hold one share. Although a reverse split had been expected, it’s still a big ouch for some shareholders, who were venting today on Yahoo’s Loudeye message board.

Loudeye’s stock began trading this morning on the split-adjusted basis, and will have the symbol LOUDD for 20 trading days.

The move immediately brought Loudeye’s share price back above the $1 mark — which, if this continues, will clear the company from the danger of being delisted by Nasdaq. Loudeye’s share price was $2.80 at 11:30 a.m., compared with closing at 35 cents yesterday.

Comments | More in Digital media

COMMENTS

No personal attacks or insults, no hate speech, no profanity. Please keep the conversation civil and help us moderate this thread by reporting any abuse. See our Commenting FAQ.



The opinions expressed in reader comments are those of the author only, and do not reflect the opinions of The Seattle Times.


The Seattle Times

The door is closed, but it's not locked.

Take a minute to subscribe and continue to enjoy The Seattle Times for as little as 99 cents a week.

Subscription options ►

Already a subscriber?

We've got good news for you. Unlimited seattletimes.com content access is included with most subscriptions.

Subscriber login ►
The Seattle Times

To keep reading, you need a subscription upgrade.

We hope you have enjoyed your complimentary access. For unlimited seattletimes.com access, please upgrade your digital subscription.

Call customer service at 1.800.542.0820 for assistance with your upgrade or questions about your subscriber status.

The Seattle Times

To keep reading, you need a subscription.

We hope you have enjoyed your complimentary access. Subscribe now for unlimited access!

Subscription options ►

Already a subscriber?

We've got good news for you. Unlimited seattletimes.com content access is included with most subscriptions.

Activate Subscriber Account ►