You make a good point in the fact it takes a considerable effort...

You make a good point in the fact it takes a considerable effort to double your money after consolidation.

Traders prefer high liquidity and the penny dreadful stocks can provide easy exit points along the way with higher gains and lower entrance costs.

Consolidating isn't about shareholder wealth IMO it's about CR and affording an AIM listing with the bigger boys.

It is a show of confidence by management again IMO, but a sure death to high Volume DT activity as we know it here. Doesn't infer you will lose money Post Consolidation, you will see SH jumping off to watch the effect, then deciding whether or not to get back on at a better entry point relative to their exit.