Large shareholders run this showIt was a very promising development for Gear when they announced NCIB filing. It felt like Gear is turning a corner. Share price went up from $0.62 to $$0.79 Then a couple of months later a new statement came out with the announcement that no shares will be purchased. The stock tanked down to $0.66
Let me remind you, Gear is doing it second time in 2 years. Last time they filed for NCIB, spent $5 mln for buybacks, pumped the stock to above $1.60 and then announced no more buyback.
It sounds as there is a scheme where large shareholders and the management are all on board of having the stock cheap, washtraded and unattractive to the public and institutions while they collect dividends and quietly squeezing small investors out of it.
This stock will definitely suck in the next year unfortunately