$American Bitcoin(ABTC.US) fell another -23% today. It just completed a 1-for-15 reverse stock split on July 2nd to maintain its Nasdaq listing, and reopened at the post-split price on the 6th. It should have been around $8.4, but it slid all the way down to just over $7.

The split only changed the share price unit; the underlying issues like Bitcoin's weakness and the quarter-over-quarter decline in Q1 mining revenue remain unchanged. Does a reverse split really buy breathing room for such mining stocks, or does it just postpone the delisting risk? I think it's the latter—a split can't save the basic factors after all.