Post by
torontoexchange on Apr 25, 2024 4:21pm
it's called market manipulation or corporate embezzlement by
share buybacks used to be illegal for this reason. CEO doesn't need shareholder approval to buy back shares at inflated price and is not a good use of cash. and is considered market manipulation by the company to inflate share price via market bidding or cornering the price as the stock is thinly traded. but SEC change the rules and allows share buybacks. to support price. if the share price was cheap and good value sure but not at these inflated prices or p/e of 32 and dividend is only .24% the company can make 6% on cash and share price is not cheap. it's a billion dollar market cap penny stock when it's manipulated like that