Hey mate some nice posts above, but just to push back on these points here , MDC was only under 5 cents on 3 days in total, so really to say trading below 5cents and seller pushing it down everyday, thats not giving a fair representation of what the share price was before consolidation. And saying big seller for $200k , of selling right at end of financial year , I mean thats subjective, but 200k of selling over 3 days 70 k a day, I mean I wouldnt call that big.
Also Saying we are up 30% from all time lows, you could say that about nearly any stock, most are well above their all time lows, and yearly lows.
This chart takes into account consolidation prices:
Dont really see how consolidation stabilisted SP, you had a couple of days of EOFY selling, and then it bounced back, like most stocks did, and now MDC is back the position it was before the EOFY selling, but very illiquid, I would say the SP is less stable now, if there was $200k of selling right now there are not even enough buyers on the bid to take it up. Whereas before we were more liquid, with 100s of thousands of buys on every price, so the share price could be dumped with 200k worth and not have to worry too much, now if someone wanted to sell 200k, it would be brutal. Theres only around $100k of buys in total on the bid.
Consolidation almost never works out for holders, try to find an example of it working out, genuine challenge try to find an example where it worked out well , I can point to 100s of examples of it not working out, but hard to find one it does. We are now well under the price of we were at pre consolidation, needs to get over $13.20, just to be at the same price we were before consolidation.
Bad management, bad decision making, there was zero reason for it, not necessary to list on nasdaq, and wanting to list on nasdaq without ADRs again just bad decision making, no benefit we just have more room to fall, an illiquid stock, with no serious investor wanting to touch it, which is why we are looking at a stock that is now only getting around $12k on average traded since the consolidation, this is less than half the amount that was coming in before consolidation.
I dont see how it can be argued this was a good move. Wheres the good? We now have a lower share price, a raising on nasdaq that will be at a discount to even this low price, more dilution, there really is no good for any shareholder apart from Sean Hall that can continue to pay himself for years . Bad management, bad decision making.
(20min delay)