these buyback are a very smart move by management, they can see the value in buyback your own stock when NTA is $2.90 and the stock is $2.35, even warren buffet suggests companys buyback their own stock when this happens, especially as buying other assets at this time makes no sense, as most retail assets are near record highs, if VCX was going to buy another big centre, it would have to pay top dollar for it, why do that? when you can buy back your own stock for 15% below book value, eventually the stock price of VCX will reflect managements great thinking here, it will be a $3 stock eventually, when % rates go to 0% and people will do anything to chase any yield, VCX yielding 6% or even 5% will be on everyones radar and it will get bought up...
VCX Price at posting:
$2.35 Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)