I always find it weird that retail investors speak of share price when that number is so obviously easy to game. Seems to me like it'd be better to think of it in terms of percentage of the company than in numbers of shares.
You're right about that number being so obviously easy to game, but share price isn't completely irrelevant since many mutual funds won't hold shares with a price < $5 [1]. Also, share prices < $1 can lead to delisting from exchanges such as NYSE or Nasdaq [2]
right, but a company that is worth something is going to do a reverse split when it starts trading in the $5-$10/share range. Share price is technical arcana, something the accountants should worry about.
Personally, I'd compare letting the stock price fall below $5 to filing your required government regulation paperwork late. If it happens often, there is something wrong, sure, but it's something that can be fixed by firing a couple of paper pushers; it doesn't indicate a fundamental weakness in the company's business.
