Yeah share buy back is fantasy. they only pull this kind of manouvre if they have cash to burn and dont want to do a return of equity to shareholders.
They buy back then they tear up the shares so there are less on issue normally.
Also shorts have not been dropping off as a % of daily volume.
On the bigger down days they have been as high as 38% of volume last week alone with 10 - 16% being usual.
And cant remember the exact figures but think I saw Friday that there is a small float available to be borrowed. I'll decipher the figures if you guys are interested.
Its more like they are capping it and will use announcement to drive through resistance above IMO.
Anyways big day gardening and my old mate Hose Cuervo has dropped over to mix it up with some lemons from the backyard so I gotta go and make sure he is worth his salt.
Manyana gringos ;)
Yeah share buy back is fantasy. they only pull this kind of...
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Last
$6.23 |
Change
-0.180(2.81%) |
Mkt cap ! $5.823B | |||
| Open | High | Low | Value | Volume |
| $6.31 | $6.34 | $6.23 | $15.33M | 2.448M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 18426 | $6.23 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $6.24 | 7550 | 1 |
View Market Depth
| Last trade - 16.10pm 10/07/2024 (20 minute delay) ? |
| LYC (ASX) Chart |