LG,
In a lot of cases a company consolideates because the value of each share becomes very low (due to poor performance). The poor performance continues and the share price drops post consolidation.
In Nido's case hopefully we will see continued good performance and the share price will appreciate.
It is purely a psychological thing but some investors and fund managers will not invest in "10c" shares - but they will happily buy 1/10th as many $1 shares. There is no logical reason... it just is.
Also, as I pointed out earlier in the thread the consolidation reduces the minimum spread from around 5% to 1% which should help with liquidity.
Board changes and consolidation are a signal that NDO are entering a "new phase"... hopefully this is good news for holders.
p1000
share consolidation, page-20
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Last
85.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $193.8M | |||
| Open | High | Low | Value | Volume |
| 85.0¢ | 85.0¢ | 85.0¢ | $96.18K | 113.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 15000 | 85.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 87.5¢ | 833 | 2 |
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| Last trade - 10.24am 10/07/2024 (20 minute delay) ? |
| NDO (ASX) Chart |