The market cap has been adjusted by some brokers but not the pps. Why would a company retire shares only to lose $$$$million in market cap, that would not make any sense. What company in their right mind would do such a thing? It is counter productive for their shareholders and would make any management team look incompetent thereby causing future investors to wonder why they should invest in such a company. If no adjustment is made whatsoever, this could be the worse decision made. I am sure that Joe did not make this decision without consulting experts in the field so he should be taking a hard look at whoever is advising him.