still very hard to follow the logic with this buyback. Weeks of circa 50k shares a day and yesterday more than 250k shares. It does not seem a function of how much volume is on the sell side but some other mysterious method. Yesterday did not appear to be any more compelling to activate compared with the weeks before.
As I write there is more than 170k offered at 1.90 which is still lower than the price allowed. This would still be greater than a 15% discount given markets are stronger this week. With so many more shares being able to be bought back this year what are they waiting for?
They seemed all so happy in March one day to buy back stock at no greater discount. Is it only when they fear others might buy a big line of stock quickly that they view the buyback is important?
VG1 Price at posting:
$1.88 Sentiment: Hold Disclosure: Held
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