Imo the share consolidation could in part be to prepare for US dual (or even primary) listing. Any company in the US that trades below $5 is considered a penny stock there and they will likely want clear of that stigma to commence US trade.
1:20 here at the moment at 28c is an ~AU$5.80 stock. If in just under three months they can give enough market confidence to get this up to ~39c at current exchange rates, it’s a AU$7.80, which then sits above the US$5 mark.
IS SHARE CONSOLIDATION SIGNALLING SOME THING BIG?, page-19
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Last
$4.59 |
Change
-0.220(4.57%) |
Mkt cap ! $390.4M | |||
| Open | High | Low | Value | Volume |
| $4.79 | $4.79 | $4.57 | $211.0K | 45.31K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 684 | $4.58 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $4.61 | 106 | 1 |
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| Last trade - 16.10pm 13/09/2024 (20 minute delay) ? |
| MYX (ASX) Chart |