September 6, 2002 4:05 PM PDT
Commerce One reverse stock split gets OK
Commerce One, which was once a Wall Street business-to-business darling and initiated a 3-for-1 stock split in 1999, has seen its shares slip below $1 for the past several months. The reverse stock split could help the company avert a delisting from the Nasdaq, which requires companies' stock prices to remain above $1. The company's shares closed Friday at 34 cents, up about 1 cent, or 3 percent. The reserve stock split will take effect after the close of business on Sept. 16.