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
16.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $286.2M | |||
| Open | High | Low | Value | Volume |
| 15.5¢ | 16.0¢ | 15.5¢ | $326.4K | 2.069M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 15 | 1324611 | 15.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 16.0¢ | 906839 | 4 |
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| Last trade - 16.10pm 31/07/2024 (20 minute delay) ? |
| CVN (ASX) Chart |