Disagree with you there. Like them or not (I hate them and think they should be illegal except under very clear circumstances as they manipulate the mkt) company buybacks are a constant feature of the market and occur regular as clockwork, bubble or boom. That takes away excuses Joyce's actions as just like everyone else. As I have said before, a company doing a share buyback with negative equity is rare. Studies have shown that many subsequently go bankrupt.
This should be a massive alarm bell for investors, instead they just line up like lemmings. The entire US airline industry had to be bailed out in COVID because of not just COVID, but the sheer mass of buybacks done post GFC. Denigrating an already troubled balance sheet like this is utterly reckless. Companies allowed to do buybacks with negative equity just shows how misguided financial governance and regulation is.
Will QAN survive?, page-4968
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Last
$5.93 |
Change
0.090(1.54%) |
Mkt cap ! $9.662B | |||
| Open | High | Low | Value | Volume |
| $5.92 | $6.03 | $5.92 | $33.25M | 5.584M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 71313 | $5.93 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $5.95 | 10016 | 1 |
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| Last trade - 16.10pm 09/08/2024 (20 minute delay) ? |
| QAN (ASX) Chart |