Yeah, there's a difference between announcing the buyback and aggressively buying shares on 1 day #1. It shows the company is serious and it isn't a posturing tactic only. Some comparisons have been made to the CUV buy-back which over a long period of time not many shares were bought back despite the share price being pretty low relative to their prospects.
Jon as CEO strikes me as a conservative guy and whilst he does have a medical background, he was CFO prior taking the reins as the CEO. It would be a safe assumption to state Jon has confidence that the shares are in fact undervalued and that the cash is surplus to requirements.
Many investors waiting on the sideline for a 'bottom' may be interesting in re-entering now. The price is still ridiculously cheap.
NEU Price at posting:
$13.39 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)