Post by
vwbusman on Dec 02, 2023 6:34am
Nov share buybacks
Just under 6 million shares were purchased and cancelled by ATH in November - about 1% of the float (there were 606 million shares including all warrants, options and common shares as of Oct 31st).
Pretty good if 1% of shares are eliminated monthly.
Comment by
filefish on Dec 02, 2023 7:21am
6 mil /mo. Is not fast enough. They need to do periodic SIB's of 25-50 mil shares in order to make meaningful reductions. ATH has plenty of cash on hand to execute this. Target 400 mil shares o/s by the end of next year.
Comment by
OGInvest0r on Dec 02, 2023 2:31pm
Cash on hand is important right now IMO. Volatile oil markets make it hard to predict a direction. So they need to have a float so they don't incur more debt. They are buying back steadily which may not be enough to shake the shorts right now but it's enough to keep us longs happily holding our shares.
Comment by
OGInvest0r on Dec 02, 2023 10:51am
Management is executing the plan like MW says quietly in the background as the daily market traders do their thing. True long term investors will be handsomely rewarded.