RE:RE:RE:RE:RE:RE:RE:RE:RE:CEO said, "we are undervalued". Okay, so how what is an I know that M&A isn't needed since if any company 'needs' M&A to survive and thrive then the company is not healthy.
I also know M&A is not needed as the company themselves have indicated time and again that they have right sized the SKUs and have strong partnerships in important jurisdictions in the world, partnerships that presumably would be able to leverage a product set LABS already has (ie. why would any partner sign up to be a partner if the products they want to partner on aren't available with the partner they want).
Wasting money on another M&A activity at this point is meaningless when they themselves have stated they have all the need to grow the business. Inorganic growth can come once and only once they have executed with what they have now.
A share buyback with the money is the greatest gift they can give shareholders right now. If they want M&A, let them do it once they're profitable and have money from operations to spend. The need not empire build any longer, that can come later.