Sorry - couldn't disagree with you more. It is management's job to convince the market of the value of the company. They achieve that there is absolutely no need to buy back their own stock, the market will do it for them.
All this cr*p about evil shorters is a nonsense. Would you complain if somebody sold you a house in sydney for 300k?
Where there is value there will be willing buyers. If management can't convince the market they are doing a good job, do you point the finger at the market or at management?
I personally think it is time for a changing of the guard. Preferably by takeover, or change of management. They can't go cap in hand to punters again and maintain shareholder value. There must be a Plan B.
KAR Price at posting:
$3.53 Sentiment: Buy Disclosure: Held
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