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clock Created with Sketch. 26/04/24
14:51
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Originally posted by Volcanite:
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I actually disagree Tugger. There are many companies that were utilising their buy-backs at 52 week highs (KGN and JHX), which reversed the direction of their stock price as they went hard on their Buy-backs. For stocks with lower liquidity, this makes even more sense if they apply it with technical price zones of support. Given the aforementioned companies executed their buy-backs at all price stages, this clearly results in the purchase price NOT being the cheapest rate going, but with the result of forcing upward momentum in the right direction. Thus the buy-back can and should also be utilised to create or enhance technical support zones. KGN achieved at least a 100% upside, with worse fundamentals than CTD. Failure to actually employ the buyback implies that management actually believe the shares:
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what are you talking about? There has been buy backs everyday. Other companies like FLT and HLO which are not as well positioned as CTD are not doing any buy backs.
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