BUYBACKS DON't WORK WASTE $$ ?Whose Shares are they buying??Sorry Chung, its a well documented study, BUY BACKs don't work in fact they are a waste of valuable Cash, which FNR has little of??. Look at the last set of FNR Buy Back announcements and where the Stock is trading ALL Were LOOOOOSERS - NEGATIVE RETURN for investors.
Perhaps MGMT/TOM/Board are trying to create liquidity or buying in this DEAD MONEY STOCK.
Noted Tom/MGMT comments on their ???? Valuation - they think stock is worth more but, if you look at their Public holdings all in the Toilet, bouncing off the bottom. To reward share holders they need to cut expenses and salaries even more another 50 plus % and that means travel and entertainment should go to ZERO and eliminate waste.
Then again whose shares are they buying??? Lots of sellers if there is Liquidity.
All the above in my humble opinion and reference to studies on Stock buy Backs.