consolidated at 1 for every ten held and a share price of around $18...
well to me ..the downside is much bigger at this level...
given the high price I anticipate a much lower daily volume turnover...so it may not be the stock of choice for daytrading after that...
...the big returns on trades will diminish making it less attractive...
it'll be like trading BHP or RIO with less stock on issue....
they well issue more stock in to make an acquisition...I'd expect it to be at a premium to that companys share price...so I'd then expect to see high volumes sold down...forcing ozl share price to lower levels...
its rare to see a stock price hold up after a consolidation....it can happen..but its rare...
..the offer of an upcoming dividend and a return of capital can be an incentive to hold and thus keep the price up...but they have stated june as the possible date...
...thats over 4 months in limbo...during which time the stock can be played either way..up or down but for most of that period I'd say down...for accumulation..to grab the div and capital return...followed by a dump...depends on the timing of the consolidation of the capital return and the consolidation date....
nice rise today...sold today so no position at this stage
ten for one, page-19
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