Share price consolidation in this case is cosmetic in many respects.
If the company is not delivering new contracts/revenue it does not matter how many shares are on issue.
Institutions are interested in the numbers, revenue, profit, growth potential.
All this exercise will achieve is to line the pockets of a broker and give them the opportunity to work the share price prior to consolidation and then look after their professional/sophisticated (own clients) with a special deal on the inevitable CR to follow.
It is a company with much potential and now the market "operators" are setting it up to get their advantageous entry points established.
The retail investor hangs on and hopes his entry point does not get smashed by 50% in the activity to unfold.
Ann: Consolidation/Split - IME, page-12
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Last
42.0¢ |
Change
-0.025(5.62%) |
Mkt cap ! $19.16M | |||
| Open | High | Low | Value | Volume |
| 42.0¢ | 42.0¢ | 42.0¢ | $7.315K | 17.41K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 11200 | 41.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 42.0¢ | 584 | 1 |
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| Last trade - 11.36am 08/11/2024 (20 minute delay) ? |
| IME (ASX) Chart |