Will the split attract additional retail investors and potentially dilute existing institutional ownership?

A 4‑for‑1 forward split typically lowers the per‑share price into a range that is psychologically more attractive to retail participants (e.g., from $120 to $30). Because the split is framed as a liquidity‑enhancing move, the immediate effect will likely be a modest uptick in daily volume as existing shareholders adjust their holdings and new, smaller‑ticket investors enter the order flow. In the short‑term, the chart often shows a brief “break‑out” pattern: the price may trade slightly above the pre‑split level on a higher‑volume bar, then settle into a tighter range as market makers rebalance supply. Traders can look for a post‑split breakout above the prior resistance (now scaled by ¼) with volume ≥ 1.5× the average daily volume as a signal that retail interest is materializing.

From an ownership perspective, the split does not change the number of shares each institutional investor holds relative to the total float; their proportional stake stays the same. However, because the lower price widens the pool of eligible retail accounts—particularly discount‑broker platforms that impose minimum trade sizes—institutions may see a gradual erosion of their relative percentage as new small‑cap traders accumulate positions. The dilution effect is therefore more perceptual than mechanical: institutions remain the same absolute share count, but the share‑of‑float they control can fall if retail inflows are sizable. For traders, the practical takeaway is to monitor the institutional ownership percentage in the next 30‑60 days (via 13F filings or Nasdaq data) and watch for a sustained increase in retail‑driven volume; a breakout accompanied by a rising float‑to‑institutional ratio would suggest the split is achieving its intended liquidity boost and could justify a short‑to‑medium‑term bullish stance on NRIM. Conversely, if volume spikes then quickly recedes and institutional ownership remains dominant, the split’s impact may be limited to a temporary liquidity bump.