Thanks to all, for your helpful advice regarding the consolidation. Just to clarify a couple of things. As alluded to in my original post, I was aware that the (number) of my shares had been reduced by a factor of 8, but with a similar increase in the (value) of these reduced number of shares. I was not under the illusion that my (original) share holding had skyrocked in value, so I was never in any danger of selling/giving them away to anyone. Yes I am aware that 10 shares @ $1.00 = $10.00 and 1 share @ $10.00 = $10.00.
Some have made the point that it doesn't matter if you buy say a .20c share in the hope that it will become a $2.00 share or buy a $2.00 share in the hope that it will become a $20.00 share.
From my limited and past experience, it seems more likely that a "penny dreadful" stock (@ .26c in this case) with very good potential such as BOE, has a greater chance for an exponential rise in its share price ie: 10 fold increase (the moderator apparently doesn't like the term Disallowed).
So buying a (now) $2.30 or so share in the hope of a 10 fold increase would require a great deal of faith that the success of the company/project was 100% in the bag and only going north. Maybe it will, hope so, because I tend to buy and hold in most cases.
A fairly recent example - I bought into ASM (a rare earth stock) @ $1.13 per share not that long ago, it has traded at over $14.00 and currently around $12/$13.
Just seems the higher the starting share price is, the harder it becomes to get multiple 100% increases.
This was what I was referring to, I was just puzzled why this consolidation seemed to be thought of as a good thing. Hopefully the American exposure will indeed be the catalyst to knock it out of the park. Rather than a slow leak to a much lower price level. Thanks again.
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$3.94 |
Change
-0.040(1.01%) |
Mkt cap ! $1.611B |
Open | High | Low | Value | Volume |
$4.00 | $4.00 | $3.81 | $14.23M | 3.665M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 12641 | $3.94 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$3.96 | 16839 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 2731 | 3.940 |
4 | 8710 | 3.930 |
6 | 74452 | 3.920 |
3 | 18125 | 3.910 |
7 | 40636 | 3.900 |
Price($) | Vol. | No. |
---|---|---|
3.960 | 11839 | 2 |
3.970 | 2731 | 1 |
3.980 | 42436 | 7 |
3.990 | 61211 | 4 |
4.000 | 81432 | 6 |
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