A buyback would generally be on-market roofy, or possibly as an...

A buyback would generally be on-market roofy, or possibly as an off-market offer. So I wouldn't sell at the current prices unless I needed the loss to offset other CGT obligations.

If they announced buyback at say $2.50 limit, the SP would pretty much immediately jump to that or just below. While that would mean I would make some money on my investment, it would not be high enough for me to sell based on the time I have held. I am in the $2-$2.50 average range.

Agree with your point on the optics however. Fidelity (who are not small or short of a dollar) would be very pissed over it, along with many of their customers/HNWI/corporate investors which they represent. Could even bring more legal action.