RE:RE:8.25 million shares buy backOf course, of course management knew. Im sure they are short spot silver on personal accounts at the right times too.
All that aside, SP got butchered by extremely opportunistic short sellers, and honestly ot was almost telegraphed. Agree, buy backs wont create a bottom necessarily, however KN is a trader and understands when to position for cushion and for gain.
Quarter was very poor, wouldnt be surprised if management let the issues like the stoppage pile up strategically to gain leverage on union negotiations. Chance for a lower entry on SP too knowing how bad it would be. They have resolved this 1 time labour issues and are continuing to ramp up production on schedule. They are as lean as they were if not leaner, than in late 2015 and are sitting on cash.
Bottom line si is at or very close to a bottom, and the market will realize that FR is is no different position, operationally than it was early in 2015.
so if youre a long term investor, buy the discount to front run the rush when si pops. That being said I dont recommend knife catching.
peace.