Generally I have found the reason for consolidation is quite simple. It’s the only way to remove power from Pip traders.
If the share price sits at around $1, when funding the project you will have less volatility as if a pip drops you lose 1%. It’s easier to create upwards pressure.
that’s the worst explanation but I hope someone can word it better.
Ann: Notice of Annual General Meeting/Proxy Form, page-56
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Last
17.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $19.60M | |||
| Open | High | Low | Value | Volume |
| 17.0¢ | 17.0¢ | 17.0¢ | $33.25K | 195.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 91389 | 16.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 17.5¢ | 141000 | 2 |
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| Last trade - 16.10pm 18/10/2024 (20 minute delay) ? |
| MGT (ASX) Chart |