Terrible metaphor and incorrect. The majority of Consolidated companies trade under their equivalent value i.e. the pizza shrinks.
Pre recon prices immediately come under pressure, as we've seen today but, the psychological willingness of selling at 50 cents is easier than selling at 2 cents.
I don't indict the idea because the capital structure was doomed when it was seeded, but the precedent for non-cashflow entities doing this is overwhelmingly ugly.
At least you have some time to think about it.
Ann: Notice of General Meeting/Proxy Form, page-98
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$3.27 |
Change
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Mkt cap ! $353.2M | |||
| Open | High | Low | Value | Volume |
| $3.31 | $3.45 | $3.18 | $3.300M | 989.2K |
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| No. | Vol. | Price($) |
|---|---|---|
| 2 | 1101 | $3.27 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.28 | 132 | 1 |
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