What do you mean going down? Do you mean mcap staying the same...

What do you mean going down?

Do you mean mcap staying the same but issuance of shares causing the price to reduce? (for instance, LNY)

Or do you mean mcap and shareprice reducing because the market is valuing the company less?

Might I suggest only in the former example is your proposition true, but not in the latter.

However, in the former example the reason for the consolidation is not the shareprice, rather, the shareprice is a function of the metrics that cause the company to undergo a consolidation in the first place.