RE:NCIB and shortsI get what you say Lifeisgood, but It appears that WFG's way of buying back stock is much more shareholder friendly by bringing the price up rather than taking advantage of it being down.
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lifeisgood1010 wrote: Hi Olderguy1,
IFP already as a NCIB.They only use it when the stock is dirt cheap.They have very conservative
metrics to do the buyback.In 2 months of buying (Nov. and March) they have bought 35% of the NCIB.
Fully done, the NCIB would retire 9% of the float witch is not that far away from WFG.
WFG have retired about 3.7% of the float on the initial NCIB before initiating this SIB of 9 to 10% of the float.
I firmly believe that IFP were buying in June since the selling price was low.
We will know if and how much they bought before monday.
It's strategically very smart on IFP management to use and complete the NCIB at a low cost
instead of a major SIB.I would not be surprised at all to see them complete the NCIB by the
end of August and initiate another one
Also, i noticed that from June 15th to June 30th the shorts were up one million shares to
3,35 million shares or 5% of the float.
This will add fuel to the rise of the SP.These shorts will have to cover eventually.