On May 11th, 2010, less than four months ago, CMGR had 11,215,116,075 shares outstanding. Yes that is 11 BILLION shares outstanding. The next month the company decided to screw each and every one of their loyal stockholders with a 20,000-1 reverse split. Today the stock would have to hit $.55 for those shareholders of record in June to break even. Those holding from their 2009 reverse split would need the stock to hit $35, and if you were holding for the company's reverse split in 2008 you would need CMGR to head to $700 just to get your initial investment back. Today all is forgotten as the stock is up 6,250%. It opened the session at $.0028 and now trades at $.168. This is further evidence that the penny stock market is coming alive. When traders are willing to pile almost a million dollars into a stock that has taken money from so many, you know that irrational exuberance is back.
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