Bullshit analysis, it fails to provide the full picture, the time frame selected shows a nearly 66% increase in market shares, but what was skipped was the 21% reduction of shareholders. The "average" new shares is complete bullshit as those same shareholder had to absorb the 21% shareholders that dumped their positions as well as the newly minted shares into the market.
But as usual, the poor analysis has always failed to provide the details.