Hi Guys,
I have just been discussing on market buy backs with some people. We have decided that for various reasons they should not be allowed to continue in current form. I am using NAB as a example.
1. Market manipulation - at times the buyback has constituted upwards of 25% of the days volume. Surely this hinders a fair and reasonable market.
2. Price Manipulation - A large scale buy back must effect the true market price. Surely this hinders a fair and reasonable market.
3. Shareholder responabilities - Supporting the price by buy back cannot be good for shareholders. The company is paying too much for the shares.
4. Broker behaviour - It is in the best interests of the buy back broker for the price to be higher as it gives them a higher maximum price.
5. Broker Behaviour - the buy back broker should only be able to bid for stock. They should not be able to "hit the offer". Surely this hinders a fair and reasonable market.
I am interested in the thoughts of others. Remember that NAB is an example so this is not a bank bashing thread.
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Hi Guys,I have just been discussing on market buy backs with...
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Last
$37.24 |
Change
-0.350(0.93%) |
Mkt cap ! $115.1B |
Open | High | Low | Value | Volume |
$37.27 | $37.46 | $37.12 | $146.0M | 3.919M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 3322 | $37.24 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$37.30 | 676 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 3322 | 37.240 |
2 | 610 | 37.230 |
1 | 7537 | 37.220 |
1 | 7537 | 37.200 |
1 | 16074 | 37.150 |
Price($) | Vol. | No. |
---|---|---|
37.300 | 676 | 1 |
37.380 | 7537 | 1 |
37.390 | 1000 | 1 |
37.400 | 610 | 2 |
37.410 | 23878 | 3 |
Last trade - 16.10pm 25/07/2024 (20 minute delay) ? |
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