Really, I am awake. You thought they were a buy at 2cps. MSG...

Really, I am awake. You thought they were a buy at 2cps. MSG have halved in value from 2.2 cps on 29/1 to 1.1 cps on Friday, while the share market has dropped "only" 22%. Daily trading has averaged over 1 million a day since 29/1, so the buyback of a whole 1 million shares worth $12000 is irrelevant and a waste of money.

The share market is forward looking and will punish anything that could be exposed down the track (rightly or wrongly). The fact that they have yet to suffer any impact (apart from the share price) is not significant. They need new contracts and the only contracts announced since August have been renewals, though hopefully the major tourist contract announced in February is larger than the previous contract. Odd they did not tell us.