So, you know how sometimes a company's stock price gets so low it starts to feel like pocket change? Well, Origin Materials Inc (ORGN) is doing something about it, but investors aren't exactly cheering. The stock is trading lower after the company announced it's pulling the trigger on a reverse stock split.

Here's the deal: after the market closed on Thursday, Origin Materials said it filed to effect a one-for-30 reverse stock split. Think of it as a consolidation. Every 30 shares you own will be automatically converted into one single share. It's like taking a handful of pennies and asking the bank for a quarter. The plan got the green light from shareholders at a special meeting back on February 17, and the board gave its final approval on March 4. The change is effective as of Thursday.

Starting at the market open on Friday, the stock will begin trading on this new, split-adjusted basis. It'll keep the same ticker symbol, "ORGN." As for the company's warrants—those are like long-dated options giving the right to buy stock—they'll keep trading under the symbol "ORGNW." But there's a catch for warrant holders now: you'll need to exercise 30 warrants to get just one share of common stock. The math just got a lot less favorable.

And how did the market react to this financial reshuffling? Not great. In Thursday's after-hours session, Origin Materials shares were down 5.84%, trading between 10 and 11 cents at the time of publication, according to market data. When a company does a reverse split, it's often to boost a sagging share price to meet exchange listing requirements or just to look more respectable. But the market sometimes reads it as a sign of distress, not a fresh start. It seems that's the story playing out here tonight.