I don't think I am mistaken, actually, mainly because with higher volume, you don't see that gap between the 2, so obviously the market doesn't value the 5% fee in the same way you do.
Highest Bid for AM100: 0.04130000
Lowest Ask for AM1: 4.55000000
Sure, you might be able to get lucky with limit orders, but right now you're looking at AM100 being worth less than 91% of AM1. If you actually want enough volume to move an entire AM share, you would take AM100 down to 0.04080001. If you want to move multiple shares, you are SOL.
AM1 is too new to use as a price reference. It only has 525 shares currently, as it grows, it will get closer to the other whole-share sources.
My point was a counterargument to velacreations "obviously the market doesn't value the 5% fee in the same way you do" statement. I'm not claiming it is liquid enough to make a valid comparison. Just that the comparison he is attempting to make doesn't hold.
What do you have to say about this:
If I take 5% off the top, I have to take 5% off the bottom to have the same dividend yield.