That's a major kick in the guts for shareholders considering all the pain many of you have been through with this stock.
Luckily I sold out a couple of days ago but if I was still holding I would be selling out as I suspect most shareholders will not want to keep their shares once it de lists and moves to the Nasdaq.
Doing this when the AUD is low against the USD will hurt shareholders in Australia as if the AUD subsequently rises against the USD the value of your shares will drop in AUD.
So if the AUD gets 10% stronger your holding becomes worth 10% less.
Now similarly if the AUD continues to weaken against the USD you would benefit but personally I think its more likely the AUD will get stronger rather than weaker over the long term.
SEA Price at posting:
21.5¢ Sentiment: None Disclosure: Not Held
