I don't understand why people think that there is something mythical about a share consolidation.
In 99% of cases, its a death blow for a company It does not change the fundamentals of a company and a higher share price does NOT allow institutional investors to magically invest in a company in which they wouldn't invest pre consolidation. They base their decisions on fundamentals and market cap and the market cap does not change post consolidation
If people take a positive view on a stock, they will mostly buy it whether there are 1 or 2 billion shares in issue. hopefully this would increase the market cap to a point which would allow or entice instos to have a look
announcement, page-12
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$2.84 |
Change
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Mkt cap ! $198.4M | |||
| Open | High | Low | Value | Volume |
| $2.83 | $2.85 | $2.73 | $252.1K | 91.06K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 199 | $2.75 |
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| Price($) | Vol. | No. |
|---|---|---|
| $2.89 | 189 | 1 |
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