To buy back or not to buy back, it's an interesting dilemma...
What would be better for RAC in the overall scheme of things?
The company's programs are fully funded for the foreseeable future, therefore we're not in desperate need of cash, which means we can deploy funds for buybacks and raise or stabilize the SP without too much stress.
The optimist in me is thinking the company anticipates the release of some great announcement/s in the very near future which they expect to result in a major reversal/rerate anyway, in which case they might deem it wiser to conserve the cash for a (different) rainy day.
On the other hand, buybacks at these levels will give them more bang for their buck and result in a bigger reduction in the outstanding shares on issue compared to buybacks at a higher SP.
Hmmm...conserve cash, or reduce the number of shares on issue? Which one would be more beneficial for RAC in the long run?
To buy back or not to buy back, it's an interesting...
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Last
$1.65 |
Change
-0.095(5.44%) |
Mkt cap ! $281.0M | |||
| Open | High | Low | Value | Volume |
| $1.78 | $1.78 | $1.62 | $285.9K | 170.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 16759 | $1.65 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.69 | 12047 | 1 |
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| Last trade - 16.10pm 03/07/2024 (20 minute delay) ? |
| RAC (ASX) Chart |