One advantage of having a ridiculous 4.9 billion shares on issue is that you really can throw them around like confetti.
Consider an ASX biotech named Imugene. It has no revenue or products and is at the clinical trial stage, but reached an incredible $2.3 billion market-cap based on a 47¢ share price on Wednesday.
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Tom Richardson writes and comments on markets including equities, debt, crypto, software, banking, payments, and regulation. He worked in asset management at Bank of New York Mellon and is a member of the CFA Society of the UK as a holder of the Investment Management Certificate. Connect with Tom on Twitter. Email Tom at tom.richardson@afr.com
