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Hot stock: Noble down after proposed share consolidation to reduce speculation
TRADERS did not take kindly to commodity trader Noble Group's proposed consolidation of 10 shares into one.
"This will help to reduce volatility and improve liquidity, by reducing the bid-ask spread, and concurrently the impact of speculative orders on the stock," Noble said on Wednesday evening.
As of 11.51am on Thursday, the counter was trading at S$0.193, down S$0.017 or 8.1 per cent, with more than 250 million shares traded.