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Ann: Consolidation/Split - CLZ, page-184

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FIFOLife

231 Posts.

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30/03/24

12:07

Post #: 73123205
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Originally posted by bungalowbill: ↑

DaftGarf criticized FIFO for selling out and taking a $20k loss.
but what he didn't mention was the stock holding had already been crucified by a 7500/1 reduction due to the 2 consolidatios
Assuming 20 million shares at a tenth of a cent equals $20k After two cosolidations 150/1 & 50 /1 nets an effective reduction of 7500. 20mill So the company had destroyed the value of the holding .divided by 7500=2666 shares times 1.7 cents worth around $40 So the consolidions had almost completely destroyed the value of the shareholding . Not the fact that they were sold.
So FIFO sold a $40 holding after the value of the holding had already been destroyed by the 2 consolidations .

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Couldn’t have said it better myself Bill

CLZ Price at posting: 0.1¢ Sentiment: Sell Disclosure: Not Held
2 Upvote

0 Great analysis

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