Hickory Flow Test, page-61

Moshe,

"Most of the time consolidations have led to significant loss of market value."

Typically this is due to a company having no/low intrinsic fundamental value.

In the example given, without doubt I believe this would also happen to 88e if the shares on issue(SOI) were consolidated. I've been saying for years the MC is inflated by the the SOI and not down to any perceived fundamental market validation.

I had hoped 88e would be further down the road after all these years and a consolidation would be supported by some real gains, turns out, not so much.

At some point the bandage will need to be ripped off.

Just my thoughts.

Cheers.