It is a regular and widespread concern that buybacks are a means for a short to medium term surge in the stock sp, and thereby enable eligibility for those STIP and LTIP's as issued to a select few, and to exercise vested shares and other incentives. Longer out almost nil impact on the stock sp, returns to the longer-term trajectory. Short sellers, the hedge funds, and the major fundies absolutely drool over these buybacks, aggressively selling into an artificially created short term stock sp.
NHC performing well again today, as at approximately 1235 AEDT, up 17 cents or 3.7% to $4.78, at or about the intraday highs. As well NHC leading the coal sector higher, including the usual sector laggard. NHC could well turn out to be the premier coal stock listed on the local ASX.
NHC Price at posting:
$4.78 Sentiment: None Disclosure: Held
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