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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$2.89 |
Change
0.280(10.7%) |
Mkt cap ! $1.183B |
Open | High | Low | Value | Volume |
$2.80 | $2.91 | $2.79 | $18.40M | 6.435M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 11629 | $2.89 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$2.91 | 6450 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 11629 | 2.890 |
1 | 1000 | 2.880 |
4 | 41430 | 2.870 |
5 | 37267 | 2.860 |
5 | 5907 | 2.850 |
Price($) | Vol. | No. |
---|---|---|
2.910 | 6450 | 2 |
2.920 | 2189 | 4 |
2.930 | 31502 | 4 |
2.940 | 26937 | 2 |
2.950 | 68954 | 6 |
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