RE:Macroeconomics 101Goatburner - and who do you think knowingly made this absolutely stupid decision to consolidate shares after seeing studies telling them share prices normally fall heavily afterwards?
They have foolishly driven ELBM shares down from 40 cents Canadian to about 15 cents (so far) because big egos ignored stock market knowledge and relied on cosmetic financial engineering flim flam.
Their excuse was that the company had too many shares - so what have they done after the consolidation? - issue a lot of new shares!
Do not blame the stock market for this ongoing stupidity of watering down ELBM stock - or fooling shareholders into voting for their cockamaney 18/1 consolidation scheme, after they had already swallowed management's 7/1 consolidation proposal.
Right now your holdings have been severely devaluated - much more than if management had just left the stock alone to let the market judge its value.
Yes shareholders are losing - but look at who is doing it to you and how. The market is merely judging their actions.
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