@Titans19
Yes the quote is somewhat contradictory but I totally get Dr T's point: buybacks are not meant to be a tool to influence the SP, but when the SP is being gamed, then it become legitimate to use the buyback to help the SP go back towards its genuine value.
I like Sun Tzu's quote about leaving an outlet to escape, I wish BG would have applied this reasoning when he decided to sell off, for example by discussing an exit strategy with BOD, or by responding to cross-trade inquiries etc. Coming from the former RAC Chairman (whose role is to represents the RAC shareholders collective), I must say him not doing so was extremely poor.
RAC - Charts & Price Action, page-13143
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Last
$1.55 |
Change
-0.070(4.32%) |
Mkt cap ! $264.0M | |||
| Open | High | Low | Value | Volume |
| $1.62 | $1.65 | $1.54 | $145.6K | 91.60K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 5700 | $1.55 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.59 | 296 | 1 |
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| Last trade - 16.10pm 31/07/2024 (20 minute delay) ? |
| RAC (ASX) Chart |