I had a stock a few years ago that did a 20/1 consolidation with a similar quantity of SOI like IMU. It was quite funny. There was a lag time between announcement and implementation as they held a meeting over it before hand. During that time there was a massive frenzy buy up as the shares had dropped in price substantially before the announcement.
I guess many panicked, having the belief that after the consolidation their share count would look measly in the grand scheme of things. I agree that cages will be rattled, in many ways. Unfortunately for that stock I mentioned the share price did not improve. That was simply because it was a crappy company with very poor management and there isn’t much that can fix that. IMU is very different. I would prefer it to happen after some good news, then I’m all for it.
Unfortunately for that stock I mentioned the share price did not improve. That was simply because it was a crappy company with very poor management and there isn’t much that can fix that. IMU is very different. I would prefer it to happen after some good news, then I’m all for it.
