I never thought of it that way, but if LP was looking to keep the Institutions out until the company was ready to really have explosive growth, the way to do it is by keeping the share price below where they can take an interest. Certainly she hurt those who bought years ago and didn't average down, but for those who averaged down, perhaps still over $1, this could still be the best opportunity of their lives.
If the company isn't bought out in the next year, and if it's selling at $5 or more you can bet that Institutions will own well over half of it. Certainly some of these shares will be newly issued, but the majority will come from many of us. We will make the greatest percentage gains, but they will make the greatest dollar gains.
Gary