Share buy backs are not, and should not be for the sole purpose of supporting nor increasing the share price.
It is useful when a company has excess cash, is cash flow positive (and in the eyes of management will continue to be), and cannot find a better use for the cash to substantially improve the business.
This is clearly the current situation. So in the absence of a suitable addition to the business, and no share but back on the agenda perhaps some cash should be returned to the owners?
Share buy backs are not, and should not be for the sole purpose...
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