RE:Morning thoughtsI want to revisit this theme as it is one month which is 20 trading days. By letting the shorts do what they do AC has bought the same number of shares they would have bought but at $2 million per day less. So they have not spent $40 million cash less and got the same number of shares. On an even brighter note, if "AC" had let this run to $28 ot $30 they would have spent a total of $80 million to $100 million more than what they did pay and got nothing more than what they have now...roughly 11 million shares.
AC stock has this flock of short sellers following it around like seaguls following a fishing boat. You have to be impressed that they are making lemonade out of this lemon of a situation. And they are saving already earned and tax processed cash. It's like making money in a TFSA, you don't have to declare the money saved on income tax and with that you will never pay tax on the money saved in this maneuver.
As long as this flock of short sellers keep hanging around I am all for AC issueing issuer bids until there are no more shares to sell or until the short sellers just flock off.
One other tactic I think I may be seeing is that instead of buying the issuer bid shares early in the day and then the shorts eroding the gains for the rest of the day, whoever is doing the buying for AC is doing it later in the day when the price is lowest...even more savings.