PNV - Chart, page-18677

Management should use their balance sheet and cash to invest in growing the business and allocate capital to projects or initiatives that generate a return not worry about controlling the share price or playing with market participants that might be shorting. Management shouldn’t care about the short term movements in share price and should be focused on running the business. Focusing on share price is a complete distraction and fools game.

It’s ludicrous to suggest that a growth company would buy back shares after raising capital for growth expansion and a warehouse (big capex spend). It doesn’t make sense to raise capital and then buy back shares; especially at a price higher than the CR.