I think it was always listed on the NAZ, but MSTR is a classic example, albeit an exception, of how the results after a reverse split are actually good.

MSTR did a 1:10 reverse split in 2002 from a share price of $0.48. It has gained steadily ever since and today it closed at $105.77. That`s a 22x gain in four years. If I had invested $10,000 pre-reverse split in MSTR and held patiently, I`d have $220K worth of MSTR in my portfolio.

What makes one reverse split more successful than others? I suspect part of it is that the market knows when a reverse split is used as a desperate measure to stay on a listed exchange. MSTR was the victim of a bear market, but now it appears to be a darling. All it needed was a chance, and the reverse split was part of its current good fortune. I don`t have a crystal ball, but I suspect that dropping off the NASDAQ would have meant that the time it would have taken for MSTR to recover would have been much longer.

A link to a Fool article on the subject is included below. It provides some data on how well some companies did or didn`t do post-RS.

I know I`ve been harping, but sometimes doing the obvious thing is not always the best thing. Sometimes you have to be crazy like a fox to succeed.

Best Regards

http://www.fool.com/news/commentary/2003/commentary030318tj.htm