Whats the difference?
Either way the value of their portfolio doesn't change under consolidation.
Its the same value = a 15 x higher price in 1 /15 the volume.
Consolidation when you are underwater on an investment does not crystalise or lock this loss in?
The absolute level of the consolidation is irrelevant if you believe the SP moves higher over time - clearly that's where FS is at otherwise why would they tip $5mio more in.
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