Seanergy Maritime (SHIP) completed a 1:10 reverse split in order to meet minimum stock price requirements.
Seanergy Maritime to execute 1-for-10 reverse stock split (NASDAQ:SHIP) | Seeking Alpha
SHIP’s CEO announced plans to purchase $1M in shares after the reverse split.
I do think there are better dry bulk shipping ideas out there (e.g. SBLK, GNK, GOGL) than SHIP.