agree dcob... they short strategy only goes so far and when it goes wrong, it goes wrong spectacularly!! just like longs the herd mentality exists - madness of crows as every short scramble to buy back the stock...
i'm all for ACR announcing a buyback on its stock just to shake the market for acr a bit... such a move achieves a number of things: 1. it signals board confidence in the future and indicates that the board see value at current prices 2. it keeps the shorts guessing - it also shakes the market and would force a temp short cover 3. it provide liquidity and may create a floor price - which gives long investors confidence 4. it improves EPS!!! 5. deploys surplus cash - and generates a better return than OCR??
ACR Price at posting:
87.0¢ Sentiment: ST Buy Disclosure: Held
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