imo when a share consolidation occurs it generally causes a period where the share struggles for traction to maintain the higher share price.
This is all psychological based on the share now costing more to purchase even though the m/cap of the company hasn't changed. Once it regains traction off it goes.
When the reverse happens ie a company has a share split to increase liquidity - the price usually takes off because the price is cheaper then it was before the share split and psychologically punters think on some level they are getting a bargain.
The above makes no logical sense but investors/traders are seldom logical in there decisions.
Ann: Somnomed now profitable , page-8
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Last
42.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $83.20M | |||
| Open | High | Low | Value | Volume |
| 38.5¢ | 42.5¢ | 38.5¢ | $6.294K | 15.83K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 3125 | 40.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 42.5¢ | 3243 | 1 |
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| Last trade - 15.20pm 11/09/2024 (20 minute delay) ? |
| SOM (ASX) Chart |