Penny stocks still languishing despite consolidation
Some two-thirds of the 37 mainboard companies shed value after meeting minimum trading price rule
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THE share consolidations that numerous mainboard-listed firms have undergone thus far to comply with Singapore Exchange's minimum trading price (MTP) rule seem to have largely turned out to be a case of one step forward, two steps back - hardly the most encouraging sign for the many others that may soon have to take a similar path.
The majority of the stocks that recently finished MTP-related consolidations have lost ground following the move, with a handful slipping precariously close to the 20-cent MTP threshold and at least one still languishing in the single-digit price range.
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