Thankyou for your reply. Don't you think that if high shares on issue is an indication of a poorly managed company, that a consolidation is in essence trying to sweep that under the rug? Any one worth their grain of salt would see the 100x price spike on the chart, check the date and see there was a consolidation. Does that suddenly mean the company became better manage? Consolidation without a reason other than to reduce SOI accomplishes nothing, other than it looks better at a 30 sec glance to a new investor.
I also don't believe high SOI has anything to do with insto's being on board, nor them selling out from their CR. There is no evidence that there are none or that they have sold out. Several posters, including slick, suggested they did, but were unable to provide any evidence. I see no indications of large liquidations in Volume analysis, while in addition we see massive amounts of shares changing hands on index removal. If the index funds decided to sell out, who bought their millions (20mil shares per trade) of shares in one fowl swoop? While index funds are obligated to buy on an inclusion, qbsolutely no-one is obligated to buy on a ln exclusion yet we saw it happen.
I posted a day or so ago about why I think BP(or other instos) could be already on the register. I also think a lack of a substantial holder notice is not evidence, there are easy ways to get around it through nominee accounts. None of these things though, are confirmation that insto's are not interested in high SOI companies. Ironically, they are not evidence that it doesn't matter either. We'll have to agree to disagree mate, but thank you for the reply.
IMU Price at posting:
10.0¢ Sentiment: Buy Disclosure: Held
(20min delay)