What do you mean artificially inflated? It's a pretty basic concept to buy back shares, and I don't think people are fooled by this.
They are spending cash to increase the remaining shareholders' ownership of the business. If you think the SP is at fair value there is no consequence, however if you think the SP is low and will rise, then shareholders are getting increased ownership at a discount. That's where the opportunity lies for investors, and the display of surplus funds allowing IGL to do this is another big catalyst for confidence from investors.
I for one am glad that they are doing this, provided they have the financial capacity. Not a lot of opportunity at the moment to use that capital to secure new contracts and expand production.
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Last
$2.05 |
Change
0.010(0.49%) |
Mkt cap ! $315.6M |
Open | High | Low | Value | Volume |
$2.07 | $2.07 | $2.04 | $162.9K | 79.47K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 8678 | $2.05 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$2.07 | 2124 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 8678 | 2.050 |
5 | 74012 | 2.040 |
3 | 2434 | 2.030 |
3 | 55374 | 2.020 |
2 | 15000 | 2.010 |
Price($) | Vol. | No. |
---|---|---|
2.070 | 2124 | 1 |
2.080 | 2124 | 1 |
2.100 | 3098 | 4 |
2.110 | 5392 | 1 |
2.120 | 9836 | 2 |
Last trade - 16.10pm 17/07/2024 (20 minute delay) ? |
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