Both. Lag time is long for receiving and recording for public view. Delay is accommodated for what purpose? Not informative real time, should be considered as a rule of thumb rather for decision making purposes than to gauge actual timely O/S and float. There is always a significant, IMO, report-display gap - real time accounting also changes hourly/daily when there is active note(s)/broker conversions and share sales.
So, how useful is any reporting entity's calculations? Close to real time reporting only occurs during company live CC (or at least you would think so).
Don't get me wrong. Knowledge of 'dated' O/S and float information is very useful in making trade decisions. A potential or current SH needs to know such information to develop a concept of trend analysis. A trend going in the wrong direction in regards to positive thinking may just be the necessary element for deciding to choose another investment alternative.
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