Given the original optimism surrounding the share buyback, and the surprise by many investors that Clinuvel is not more aggressively re-purchasing shares, I was expecting at least some alternative suggestions. However, this basically confirms my thesis. I see no indications from the company, nor from their execution of the buyback, that it is intended to accomplish anything other than maintaining a 26 P/E floor on the share price. It is not intended to raise the share price. It is simply there to provide a share price safety net of approximately $15.
Is Clinuvel's share buyback price goal just $15?, page-2
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Last
$14.09 |
Change
0.100(0.71%) |
Mkt cap ! $705.3M | |||
| Open | High | Low | Value | Volume |
| $14.00 | $14.30 | $13.93 | $676.4K | 47.95K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 200 | $14.04 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $14.16 | 405 | 1 |
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| CUV (ASX) Chart |