I cannot believe my eyes.
When the Buyback was originally announced ....way back .... I was overly vocal as to the baseless reasons for doing so. I could see no benefit whatsoever.... taking 10% of the SOI out of the market would have no impact whatsoever... it would NOT create a shortage.... it would NOT create a demand... it would NOT therefore have any upward influence on the SP.
For goodness sake, shorters and algo boys don't need many shares to ply their trade.... and the shares removed from the market will not even be "noticed."
I understand the intended rationale behind this move.... but IT simply will not achieve the desired result.
What it will do ...is remove millions of dollars from the kitty..... for what??
Dumb!...Dumb!!...Dumb!!!
Ann: Continuation of On-market Share Buy-back, page-7
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Last
$1.76 |
Change
0.025(1.44%) |
Mkt cap ! $1.412B | |||
| Open | High | Low | Value | Volume |
| $1.77 | $1.79 | $1.75 | $6.040M | 3.416M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 20933 | $1.76 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.77 | 350 | 1 |
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| Last trade - 16.10pm 09/08/2024 (20 minute delay) ? |
| KAR (ASX) Chart |