TNO chart, page-49

Splits and consolidations can be necessary, sometimes. More often than not they are a complete waste of time and do not increase market interest/activity in the company.

LYC's share consolidation late last year was one of the few I can think of where it was a good move as the financial health of the company had dramatically changed from being run into the ground with massive debts, to a nice turn around story, with reducing debts and making good positive cashflow. Even so, LYC's shareprice was moving very fine with many billions of shares on issues before it consolidated. eg. it moved from about 7c to 20c before it did a 10 to 1 consolidation. Traders move a stock up or down when there is news/catalyst to change the value of the company - regardless of total SOI.

Most other share splits/consolidations are just fiddling with numbers, while the underlying fundamentals of the business have lots of problems, or there is no significant catalyst to move the share price. Usually, changing the SOI is just a lame excuse by management that they are doing something.

I think this is a moot point as large buys and sells can happen on any company regardless of SOI. TNO is the same company, with the same market cap pre & post split - there is no difference, and the extra shares does not change/influence the monetary size people put into trades!

A $10K buy or sell can happen both pre-split and post-split. The only difference is that 1 pip move from 23.5c to 24c is a 2.2%; pre-split is equivalent from $1.085 to $1.11.

Again, TNO went from mid 20s to $1.025 pre-split, the low SOI previously did not discourage people from trading TNO in anyway. There were lots of liquid days of trading and total trade value up in 100s of thousands.
TNO's pre-split SP was worth what buyers and sellers were willing to pay, just like it is now post-split. Its called market sentiment.

You seem to think that people will trade differently now compared to pre-split. This is a scary thought that you think people trade that way.

See 16 May 2018 announcement. Using an example:
Pre-split: 10000 TNO shares pre-split was worth $9248 (at 92.48c)
Post-split: Those 10000 shares are now 46200 shares at 20 cents = $9248

There is no change in value of each person's monetary holding. The total worth (mkt cap) of the company has not changed.

The number of SOI does not affect how people trade stocks. If this person wanted to buy (or sell) $9.2k pre-split, why wouldn't they buy (or sell) $9.2k post-split?

This is incorrect. The share split has not increased the total value of the company. This isn't like a company doing placement to sophisticated investors or a SPP where it offers existing shareholders to buy additional shares, thus increasing its share register.
Contrary, TNO has the same market cap pre & post split. There was no new shares 'opened up' to encourage new investors. Everyone's holding was just multipled by 4.62 and SP reduced to 20c.

You may want to re-read what you wrote. I understand there are many small transactions (trades) that can go through. I originally should have circled the value of total trades. Now compare both images I linked earlier, it just reinforces my point that pre-split TNO was trading just fine with low SOI. The willingness of people wanting to trade TNO has not changed.

Again, TNO's value as a company has nothing to do with its SOI. It's valued by what buyers and sellers are willing to pay for it on any given day ie. market sentiment. TNO's market cap has grown because it has bought a vanadium asset, nothing to do with its SOI.

Just because TNO has increased in trading activity last 3 days does not have any direct correlation with it coming out of a share split. Zero, zip. TNO had similar strong trading days many times over pre-split. Likewise TNO will have uneventful days post-split, just like it did pre-split. People do not base their trading decisions on number of shares on issue!

100% disagree. The points I have outlined, many times now, explain pretty clearly how it works. I suggest you read a little wider about share split/consolidations, if you don't want to take my word for it. Investopedia for example:

'A stock split is a corporate action that increases the number of the corporation's outstanding shares by dividing each share, which in turn diminishes its price. The stock's market capitalization, however, remains the same, just like the value of the $100 bill does not change if it is exchanged for two $50s.'

I'm done here. Spent enough time on this topic. GL to your future trading.