Share prices are just arbitrary numbers, it doesn't mean the...

Share prices are just arbitrary numbers, it doesn't mean the shareprice can go any lower or higher.
However, the way the market reads a share consolidation is that the company doesn't expect the share price to go much higher in the near term.
Similarly, a share split which brings the share price back to a more viable share price range, tells the market the company expects strong future growth.
In my opinion this is why the shares dropped 20%.

Cheers