Generally I have found the reason for consolidation is quite simple. It’s the only way to remove power from Pip traders.
If the share price sits at around $1, when funding the project you will have less volatility as if a pip drops you lose 1%. It’s easier to create upwards pressure.
that’s the worst explanation but I hope someone can word it better.
Ann: Notice of Annual General Meeting/Proxy Form, page-56
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Last
18.5¢ |
Change
-0.005(2.63%) |
Mkt cap ! $18.93M | |||
| Open | High | Low | Value | Volume |
| 20.0¢ | 20.0¢ | 18.5¢ | $25.32K | 127.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 54545 | 18.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 20.0¢ | 81434 | 2 |
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| Last trade - 16.10pm 27/09/2024 (20 minute delay) ? |
| MGT (ASX) Chart |