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Bullboard - Stock Discussion Forum AutoCanada Inc T.ACQ

Alternate Symbol(s):  AOCIF

AutoCanada Inc. is a Canada-based multi-location franchised automobile dealership company. The Company offers a diversified range of automotive products and services, including new vehicles, used vehicles, vehicle leasing, vehicle parts, vehicle maintenance and collision repair services, extended service contracts, vehicle protection products, after-market products and auction services. The... see more

TSX:ACQ - Post Discussion

AutoCanada Inc > NCIB Renewal
View:
Post by sunshine7 on Dec 21, 2022 8:49am

NCIB Renewal

Starts Dec 23...

"Pursuant to its existing NCIB, under which the Company has approval from the TSX to purchase up to 1,730,321 common shares for the period of December 23, 2021 to December 22, 2022, the Company has purchased 1,730,321 common shares on the TSX and alternative trading systems at a weighted average purchase price of $32.70 per common share."

Add that to the recently closed SIB at $27 for 7.4% SOS., That will make 27% shares bought back.

Today, "
 Following Tuesday’s announcement of its new CFO and a plan to renew its normal course issuer bid, Acumen Capital’s Trevor Reynolds trimmed his target for AutoCanada Inc. (
ACQ-T -3.91%) to $40 from $43 with a “buy” rating"... thats 80% upside!decrease

In 2 days, ACQ will become an active buyer again and they have demonstrated (and analyst agrees) the will to by back shares at higher prices. Last Call!
 
Comment by sunshine7 on Dec 21, 2022 12:34pm
Puzzles me why anyone would sell their shares today when in 2 days, SIB starts buybacks in an illiquid stock with a demonstrated willingness to buy up to $27. Too many shiny objects today I guess?
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