"I din't say no liquidity tanner...I said reduced."

Yes, I know, and - exactly with my example we can see that a high optical price per share can have an effect on liquidity: I can not order 1/10 share of Bearkshire, even if I would like. But funny enough, people are very proud of owning one of them - just one!

Finally it is all about psychology. And the announcement of a RS has more effect than the optical share price, - but I guesss also this effect is a little over-estimated.

What I can see clearly: Here in Germany there is "no" liquidity, so the bid/ask spread is huge. The market volume on German exchanges is similar to the OTC, just about 5% of the TSX.
In contrast to the US most brokers here in Europe do not offer trades at TSX. So clearly a listing @NASDAQ would help people from outside US/Canada a lot, and would rise liquidity. This would be a positive spin!

TF