GREY:VFGGF - Post by User
Comment by
Whitehellon Sep 26, 2013 3:25pm
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Post# 21770770
RE:RE:RE:waterflood
RE:RE:RE:waterflood"As for the insiders buying massive amounts of stock, that is easily explained from their news release in which they stated that they are going to buy back stock and cancel the shares out. This will help the stock make another jump up when they are done buying. However, buying 20 million or so shares takes some time when they are only allowed to buy a certain percentage of the day's total volume. "
I do agree with your first 2 paragraphs, but about the Insider buying... :
I might be wrong on that, but i don't think it has anything to do with the NCIB. The maximum amount is 25 % of average daily volume. they have a daily volume average of a little less than 2 MM, so it would make their max amount around 400 k... and their has been more than a million share (in a single day) buy in the last few days.
I do not think were talking about the company's money here. I think the mgmt put their own money to support the SP so i do not think those share will be cancelled like you suggested... but again, i might be wrong...