HMNY didn't really tank because they did a reverse split. They primarily tanked because they continued to dilute investors after their reverse split by issuing new shares and selling them to the public markets via their ATM offering.
Reverse splits cause further depression in share price, but pretty much any example other than HMNY would be better. i.e. Price dropping by 1000x after a split is not typical at all.
HMNY didn't really tank because they did a reverse split. They primarily tanked because they continued to dilute investors after their reverse split by issuing new shares and selling them to the public markets via their ATM offering.
Reverse splits cause further depression in share price, but pretty much any example other than HMNY would be better. i.e. Price dropping by 1000x after a split is not typical at all.