March 11, 2014
Sun Microsystems is trying to boost its stock price by taking the unusual step of converting every four Sun shares to one.
The move, known as a reverse stock split, will quadruple the company's stock price on the day of the maneuver.
But it won't change the company's market value.
Company officials announced their intentions today.
They said that having the company's stock priced at less than ten dollars gave investors the mistaken impression that the server and software maker was struggling.
Sun shares fell 13 cents to five dollar 37 cents today.