Sorry Sydney, I like your thinking on this I just would like...

Sorry Sydney, I like your thinking on this I just would like them to be a bit more aggressive because after all this buyback will only use a very small portion of Clinuvel cash reserves (and it will be replaced by profits quicker than it is used). Yesterday, once again the shorters manipulated the price into the close to be about 1.5% below daily VWAP and remember last Friday when they dropped the price 6% - more than 3% below VWAP. This happens on 99% of days, shorters are very concerned with this short position otherwise they would not have to continually and constantly 'manage' the share price in a way that no mum and dad retail investor can. So just 2 days have knocked about 5% off fair CUV price discovery and the buyback could have easily prevented that with only a small allocation of the 1.5 Million shares planning to be bought back. The idea is to prevent manipulation of the CUV price which has been happening for 5 years now since shorters took a position against Clinuvel and created this large undervaluation. Average analyst price targets for CUV are ~$26, and only one is pricing in blockbuster Vitiligo which is in Phase 3 already with an FDA approved drug (PT with Vitiligo ~$50), so it's fair to say that the company is very undervalued. Clinuvel themselves are talking about this undervaluation and that is the reason why the buyback is there, they just need to back up words with actions which is not always their strongpoint. Recent ASIC data shows it is not going to take much for this CUV price to rocket up without massive amounts of fake sell side liquidity from shorters. Only one big buyer in Sep 21 took the price over $40 and 1.5 Million buyback shares in firepower are just waiting to be used now. Just in the last month 500000 fake shares introduced by shorters in the face of good news and the price still up, so great start but still way too much manipulation for my liking and very easily addressed with some serious buying back.

All IMO DYOR