Post by
MyHoneyPot on Jul 05, 2022 10:33am
Shareholder deserve the money
Days like today, remind me of why i sold all my ARX at 22 dollars. Bought back 5k shares yesterday, sole 60K at $22.
The concept of opportunistic buybacks, management that has a strategy and a clue about running a company would have a war chest for opportunistic buybacks. It gives the shareholders confidence, and you know the company has your back.
I totally do not like Eric Nuttal strategy, he is still a young buck, and you will see fortunes made and lost in this sector, in the blink of an eye.
Telling shareholders they are getting capital returned with buyback is a joke in my opinion, might as well throw the money out the window, good for CEO's that don't know what to do with the cash.
Hold on tight for the ride, these companies are going to have to return meaningful dividends for people to want to hold them, to much implied volitility in oil and gas, and share buyback at 120 oil only means your paying top price, oil will not be 120 forever.
IMHO