I can't understand why holders are happy with the buy back given that the company has no cash flow at the moment. Everyone seems to think that a cap raising later would be at a higher price but how can you be so sure, if anything the recent buyback indicates how tricky these things can be to predict.
Capital was very difficult to obtain during the GFC, and companies with cash in the bank were the few that navigated it better than others, and if something like that occurs again then money squandered on a buyback would be looked at very harshly IMO. To me this just looks incredibly short sighted.
Then again my opinion doesn't matter since I hold no stock...
CDU Price at posting:
$2.07 Sentiment: None Disclosure: Not Held
