RE:RE:TSX and BUYBACKA rollback (share consolidation) combined with a plan to list on a US exchange would probably be a good thing for this stock, longer term.
Sure, a share consolidation would be a short-term negative to the shareprice, as penny-traders would liquidate their positions en masse; but I would suspect the shareprice would quickly recover once the daytraders have left, and the volatility would likely even out.
In addition, this stock needs to get off the Venture Exchange. I believe PHM would benefit positively from a US listing, as most of its operations are based in the US, and it would give this stock a broader base of potential shareholders. This broader base of shareholders from the US could help soak up the shares that would be dumped by daytraders (assuming an eventual shareprice consolidation).
After selling this stock last year at around $1.10 (but having kept it on my watchlist), I'm slowly starting to rebuild a position, but it's just a small position right now (but may grow if the company can successfully execute on organic growth). We shall see.
lscfa wrote: I think the co. would rather wait until they can muster a US listing. All their employees are Americans and these people want stock options, bonus shares, etc. that can be easily liquidated in US currency on a US exchange.