I agree with you. In the current market conditions the buy back program will not help much. To prove my point here is a very simple example with Salinas (SAE), the company started their program with an intention to buy ~5% of shares when the SP was in high 30’s, already almost 50% of the planned shares have been bought but the SP dropped to 14.5c. So as we can see 5% of share buy back does not help much.
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Last
17.0¢ |
Change
0.005(3.03%) |
Mkt cap ! $299.6M | |||
| Open | High | Low | Value | Volume |
| 16.5¢ | 17.0¢ | 16.5¢ | $33.20K | 199.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 124347 | 16.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 17.0¢ | 651310 | 16 |
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| Last trade - 11.48am 10/10/2024 (20 minute delay) ? |
| CVN (ASX) Chart |