Never made sense to me why share consolidation has been historically a negative for the share price... Other than it kind of being the only 'formal' acknowledgement we'll get from a company to say they have blown out their share register through too many cap raises,,, but you would think that is no surprise to anyone so I still don't understand how it tends to create a negative sentiment.
Maybe i'll google it to see if there is any technical reason why a consolidation encourages more selling than buying in it's wake.
But it's needed in this case. It's post a merger where the company is at a turning point, maybe that is enough positive rather than just a company that has been raising too long and consolidating (but with the same story in the background) to start fresh with new cap raises.
If they can do a consolidation sandwich with positive announcements each side of it, then why can't it be an overall positive?
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