After the last RS, volume increased and PPS dropped like a rock to pre-split levels. I agree that volumes can be expected to increase but that would be accompanied by a decrease in PPS back to current levels. When that happens, YA's conversion price also drops like a rock and instead of needing 100 million post-split shares to accommodate conversion of NEOM's debt, it will take 5 billion by the time PPS drops to $0.01 post-split.