Basically, because the share price sunk as low as it possibly could, the shares are being consolidated so that 20 old shares now equals one new share. Accordingly, the new share price will initially be 20 times higher than before, but the number of shares you hold is 20 times less.
While that process is financially neutral overall, the higher new share price allows it so gradually fall back down to the lowest possible price again, at which point your shares will be worth 95% less than just before the consolidation.
Generally speaking, consolidation is a very bad sign, while share splits - which are the opposite - signal success.
Get out while you can IMHO.
Basically, because the share price sunk as low as it possibly...
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Last
0.4¢ |
Change
0.001(33.3%) |
Mkt cap ! $2.694M | |||
| Open | High | Low | Value | Volume |
| 0.4¢ | 0.4¢ | 0.3¢ | $316 | 83.34K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 56 | 42363096 | 0.3¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.4¢ | 27893910 | 17 |
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| Last trade - 16.10pm 02/05/2024 (20 minute delay) ? |
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Last
0.3¢ |
Change
0.001 ( 0.00 %) |
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| Open | High | Low | Volume | ||
| 0.4¢ | 0.4¢ | 0.3¢ | 324797 | ||
| Last updated 15.14pm 02/05/2024 ? | |||||
| ME1 (ASX) Chart |