Ugly quarter Someone explain to me how a $40M buyback is a good idea when your P/E is 70 to 80? Using shareholder cash to cancel shares that return investment in 70 to 80 years cannot be a good idea. This is like investing money at an interest rate of 1.5% per year and that is clearly not a good idea.
If I’m spending mode, the money would be better spent taking out competition that operates at higher margins and is eating your lunch. The recent quarter showing a 20% revenue decline year over year is a horrible sign for a company that previously received a crazy high valuation based on an attractive sector and high growth. The business is falling apart. This is going to get far uglier before it gets better.
https://stockhouse.com/news/press-releases/2019/02/13/tucows-announces-40-million-stock-buyback-program