Stock rises, company set for reverse split

Mego Financial Corp. shares rose 9 cents to 81 cents a share in Thursday trading as the company continues to prepare for a one-for-six reverse stock split.

Jerome Cohen, president and chief executive officer, said the reverse split, expected to be implemented today, will keep Mego's stock price high enough to be listed on the Nasdaq exchange. He said a report in the Las Vegas Review-Journal that the stock had plunged Thursday from $3.56 was incorrect.

Mego is a Las Vegas-based company that operates timeshare properties under the Ramada Vacation Suites banner. The company also owns two golf courses and the Central Nevada Utility Co. in Pahrump.

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