PME never has enough spare money to move the market by force of money.in buying back their own shares.
Rather, their buyback purchases are a way to send a message to the market.
They are in effect saying that there is nothing that they know that justifies the fall to the current levels.
In effect they are saying that they can see no better investment, internal or external, than buying their own shares at the prevailing price.
They might be biased but their record over the years of making a profit on the shares that they have bought back is second to none.
It seems that the market is taking note of the message.
Cheers
Ann: Update - Notification of buy-back - PME, page-6
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Last
$112.66 |
Change
-3.350(2.89%) |
Mkt cap ! $11.76B | |||
| Open | High | Low | Value | Volume |
| $115.91 | $117.26 | $112.19 | $42.71M | 375.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 602 | $112.61 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $112.91 | 731 | 1 |
View Market Depth
| Last trade - 16.10pm 21/05/2024 (20 minute delay) ? |
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Last
$112.40 |
Change
-3.350 ( 3.51 %) |
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| Open | High | Low | Volume | ||
| $116.16 | $117.23 | $112.24 | 60966 | ||
| Last updated 15.59pm 21/05/2024 ? | |||||
| PME (ASX) Chart |