A modest buyback program with a max price cap, would initially be earnings accretive and could be in effect self funded through the bought back shares, if current market conditions persisted for long enough. At the current price, I don’t see how a modest buyback could harm the company’s long term strategy.
Potentially the company wouldn’t even acquire the desired amount of stock, as it would send a message to the market that the stock is undervalued.
A modest buyback program with a max price cap, would initially...
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Last
32.0¢ |
Change
0.015(4.92%) |
Mkt cap ! $380.7M | |||
| Open | High | Low | Value | Volume |
| 31.0¢ | 32.0¢ | 31.0¢ | $275.2K | 880.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 253482 | 31.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 32.0¢ | 206076 | 17 |
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| Last trade - 12.35pm 03/09/2024 (20 minute delay) ? |
| MGX (ASX) Chart |