Well that went down like a lead balloon.
I am not sure why companies think that buying back shares on the market is such a good idea.
While I recognise that having less shares out there means that I have a bigger share of the pie (maybe - it hasn't happened yet) it is also at the cost of my investment, once again earning zero income. Todays drop in price seems to indicate a major exodus of shareholders who have just had enough and are not willing to hang in there till "some time next year" before they will reap any return on their investment.
This pathetic performance leaves me very dissatisfied. Share price fall, no income, and wasting the cash assets the company holds on a share buyback.
I think their must be many shareholders who sold today who expect to buy back in soon at lower prices to maybe, reap the benefits of a possible return on capital.
In the words of my young nephew - it sucks.
Well that went down like a lead balloon.I am not sure why...
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Last
$1.07 |
Change
-0.010(0.93%) |
Mkt cap ! $2.867B | |||
| Open | High | Low | Value | Volume |
| $1.08 | $1.09 | $1.06 | $11.65M | 10.92M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 57831 | $1.07 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.07 | 9368 | 1 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
$1.07 |
Change
-0.010 ( 0.70 %) |
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| Open | High | Low | Volume | ||
| $1.08 | $1.08 | $1.06 | 1926509 | ||
| Last updated 15.59pm 03/05/2024 ? | |||||
| AMP (ASX) Chart |