No reason for it. I've been through that before. Ten or 100 exsisting shares into one. Immediate 50% or greater sell down. Takes the market cap backwards. Likely they want to list on Nasdaq too early. One company did that and kept consolidating to keep share price up and the company folded. Nvidia has 25 billion shares out. Ford, 12 billion or so. Mike crows about trillion dollar markets, they only need $5 billion to be about a dollar per share. ASX companies don't seem to know what a PE ratio is. US companies trading at 70x earnings. I think a share consolidation now would be a shortsighted mistake.
Investor Call 9 August 2024, page-39
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3.8¢ |
Change
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Mkt cap ! $182.0M | |||
| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
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| Price($) | Vol. | No. |
|---|---|---|
| 3.9¢ | 140000 | 2 |
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