RE:How low this week?ELBM was 40 cents when consolidation was first mentioned and at 30 cents when it was pushed through by misled shareholders imagining big Nasdaq listing gains. They ruined it for everyone who knew it was a dangerous risk for the share price and they cost all shareholders a lot of losses.
So where does this share price go next?
Usually or frequently, consolidated shares eventually drop to their pre-consoldation share price.
That makes 40 cents or 30 cents per share very likey as a bottom. At that price level do not expect ELBM to stay on the Nasdaq without another foolish share consolidation.
The lesson here is the stupidity of financial engineering. Right now those ELBM shares seem to have more value to get tax relief by selling them to get capital losses to offset gains made in other stocks.
They will still be available to buy after ELBM hits its bottom post consolidation price but they will not likey be on the Nasdaq then - but it was obviously a big mistake to list there anyway.
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That is the lesson as I read it. What lessons did you learn from this?
xx