iParty to Execute a Reverse Stock Split?

iParty (IPT) hit an intra-day high of $0.23 yesterday (02012.05.30) before closing down almost 10% at $0.19. Back on May 2nd I wrote the following: If IPT can move above two dimes, then a move to three dimes could happen quickly. Yesterday's IPT volume was heavy (177,700 vs. trailing-3-month average of 18,266). It appears as though iParty wants to execute a reverse stock split. The ratio has yet to be decided, but the company mentioned a range of 1:5 to 1:20.

This is the third time this month I blogged about iParty...

[02012.05.04] iParty (IPT) closed at $0.21 yesterday (02012.05.03). Today is down a penny at $0.20. Interesting news story involving an iParty store. iParty defends offensive favors. Some IPT insider buying has taken place at $0.19. The dollar amounts invested were small, but they were insider buys nonetheless.

[02012.05.02] iParty (IPT) reported decent 1Q'12 results last week on 02012.04.25. Now IPT shares seems are near $0.20, which appears to be a resistance price. If IPT can move above two dimes, then a move to three dimes could happen quickly. $0.29 is the 52-week high. When it comes to historical pricing, Finance.Yahoo.com for IPT goes back to 30 December 01999 when it opened at $3.72. I think the last time IPT closed above a buck was when it closed at $1.01 on 26 April 02004 (i.e. 8 years ago).