Of course, the recent stability with NEOM is because PPS has hit rock bottom. The sellers choices are generally limited to $0.0003, $0.0002 and $0.0001. For those that bought NEOM at $0.01 over a year ago, they have already lost 97% of their investment so why even bother trying to sell.
But, alas there is hope if the RS passes then PPS will skyrocket to $0.51; followed by that rapid death spiral decline. If the RS is not approved, retail investors will not have the ability to sell below $.0001 because that is the lowest level that trades can occur. But when post-split PPS drops below $0.17, lucky retail investors will have the ability to sell below the pre-split threshold of $.0001.
The moral of this story is that shareholders who are disappointed with the realization that they won't be able to sell pre-split for less than $0.0001 should definitely vote in favor of the RS. When NEOM gets back down to a post-split PPS of $0.0003 it will be like selling today for $0.00000017647. Ouch!
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