RE:RE:RE:RE:RE:RE:NCIB BuyingIf you look at it from the perspective a of the buyback, Canaccord has a net buyer position of 559,450 since thjey started acting as Avigilon's the proxy, including today.
Assuming all of that is NCIB related, which might not be 100% accurate, those shares were acquired at an average price of 17.675$ per share for a total amount invested by Avigilon of $9,857,011. If you want, I'll even add the 97,800 acquired by insiders since May 13 to those since that probably had an effect on the price as well,. for a total value of of $1,582,351 at an average price of $16.18, and those are technically no longer part of the float, for a total invested amount of $11,439,362.
To keep it simple, Avigilaon had total shares issued and outstanding at 46,638,069 before the buyback started. The closing price on May 7, the time the stock traded before the buyback was announced and the stock started trading again, was $16.54, so my first post on this topic this morning was the accurate one, that gave the company a pre-NCIB market cap of $771,393,661.
At the close today. after you remove the 559,450 I'm assuming Canaccord bought back, issued and outstanding is about 46,078,619, making the current post-NCIB market cap of $852,454,451.
That works out to a net increase in market cap of roughly $81,060,790 since the NCIB was announced, so that for each of those $11,439,362 included in the buyback and the insider purchases, the increase in total shareholder value has been $7.08 over a 3 week period If ypu exclude the insider buys, it works out to about $8.22 per buyback dollar invested.
So maybe it's not a 10 bagger regardless who's definition you're usimg at this point, but no matter which way you cut it, it looks to hve been money well invested.
If I was investing my money and getting that kind of return over a 3 week period, I'd say I'd be pretty happy.