I've seen a lot of consolidations in the past, once upon a time I used to believe they had no impact on the share price however that is absolutely not the case after the first few days. This is a clear negative and a stuff up by a board that lacks real capital market experience (as evident by that diabolical raise).
Cons
1- It gives it further to fall! THIS IS REASON #1, ignore at your peril, I have made this mistake before.
2 - Punters love loading up on cheap penny stocks, it releases endorphins, makes them feel happy! At $0.50 they just don't buy as many, it is phycological but a fact. This caps upside and makes it a lot harder to ever triple in a week on good news.
3 - Distorts chart historicals.
Pros
1 - some funds have mandates not to invest in penny stocks, have to be $1+. BTW these funds are dinosaurs and should be avoided! at $0.50 this box still isn't ticked.
2 - Will allow it to fall further where I may buy back in.
btw - good to see MA hasn't sold down, still holding 21m in the annual report despite not being a Director.
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Last
1.2¢ |
Change
0.000(0.00%) |
Mkt cap ! $57.54M |
Open | High | Low | Value | Volume |
1.3¢ | 1.3¢ | 1.1¢ | $172.2K | 14.38M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
8 | 4649758 | 1.1¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.2¢ | 83399 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
8 | 4649758 | 0.011 |
12 | 18887452 | 0.010 |
1 | 100000 | 0.009 |
3 | 370247 | 0.008 |
2 | 550000 | 0.007 |
Price($) | Vol. | No. |
---|---|---|
0.012 | 83399 | 1 |
0.013 | 10140619 | 17 |
0.014 | 11895902 | 12 |
0.015 | 3721428 | 6 |
0.016 | 714285 | 1 |
Last trade - 15.44pm 03/09/2024 (20 minute delay) ? |
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