It is disappointing to see that in the last 2 days, there has been no buying back of shares.
Don't get me wrong, I am not one of those holders who want the price pushed up so I can sell out. I am in for the long haul, and want the shares to be bought back as cheaply as possible. That way, it is more value accretive per share for holders - less shares 'sharing' this valuable company.
But isn't that now? Isn't the share price VERY cheap at the moment? Surely the company doesn't envisage the price dropping even further? DO THEY?
Strategically, I think it would've been better for some shares to be bought back early on. It sends a strong message to anyone wanting to short the share, or cap the price, that you do so at your peril. It send a message to shareholders that the company is cheap, and we are putting our money where our mouth is. And it sends a message to shareholders and new investors alike that you can buy with confidence.
Even if they only bought a few (a millon, perhaps), it would send a much stronger message than buying none (which sends the WRONG message).
Disappointed. I hope to see a report of shares being bought back, published tomorrow, or in the very near future.
Yaq
CFE Price at posting:
41.0¢ Sentiment: Buy Disclosure: Held
