ARX - Share Buybacks Halted Jan 1 2023 Could someone please tell me why ARX stopped the share buyback on January 1, 2023? The new buyback authorization was just renewed in September 2022 for up to 10% of the total shares outstanding. The company was purchasing shares hand over fist in Sept - Dec 2022 at $18-20 per share until December 31, 2022. Since then it has come to a grinding halt.
It is not because of blackout for Q4 earnings as they have a mechanism in place to allow for scheduled purchases during blackout periods and last January they were also buying shares back around this price hand over fist.
I sure hope they are not saving their dry powder for some acquisition they are pursuing.
Has anybody asked management about this?
Regards,
Northing Burger