TNO chart, page-45

I agree that a split shouldn't change things (technically it doesn't), but it's one of those things that brings our price much closer to peers which may draw interest (as silly as that may sound to us), plus it is an event that probably drew attention and publicity to the company which is a good thing.

I don't think it's fair to use the trading data from when the company traded as TNODA/B however. My holding was split on the morning of 29th May (last day trading under these codes) and a few other holders I communicate with where the same/similar. Plus my holding never got put onto the TNODA/B code so I couldn't physically sell any of my holding which I assume was the same for many other holders.

Combine this with not many people knowing the trading code during this time, obviously the volume was going to be well down on both the buy and especially the sell side. So using the data during this time isn't reasonable IMO. Plus as the price had dropped during this time, the bounce up wasn't that unexpected and would likely have brought volume with it.

Should the split appear to make a difference, we probably won't know for a few weeks, but never for sure. The company was that illiquid that price movements over 10c in a day looked very likely most days with a buy/sell of less than a few $k, which isn't great for those wanting to buy/sell and a split will help to achieve a more fair short term (to the second) price. The split will likely compress these movements which may bring more interest to shorter & longer term traders and likely more stability along with it.

Market sentiment is going to have a much larger general movement of price, I completely agree with this. But for investors buying/selling at market, large changes in price on very little volume is likely to be of concern to all types of investors and this will likely be reduced now, which is a good thing.